logo
India, UK focus on enhancing cooperation in trade, defence, counter-terrorism

India, UK focus on enhancing cooperation in trade, defence, counter-terrorism

Hindustan Times2 days ago

NEW DELHI: India and the UK on Tuesday discussed ways to strengthen cooperation in trade, investment, defence, counter-terrorism, green energy and health and focused on measures to address export controls for enabling greater technology cooperation in strategic sectors.
In addition to holding the annual foreign office consultations in New Delhi, foreign secretary Vikram Misri and Britain's permanent under-secretary Oliver Robbins co-chaired the first Strategic Exports and Technology Cooperation Dialogue.
During the foreign office consultations, the two sides reviewed and discussed the gamut of bilateral relations. They also welcomed the conclusion of the India-UK free trade agreement and double contribution convention last month, the external affairs ministry said in a statement.
Misri and Robbins discussed ways to strengthen cooperation in trade, investment, financial sector, defence and security, counter-terrorism, technology, science, innovation, green energy, climate, health, education and people-to-people relations in order to diversify the bilateral comprehensive strategic partnership, the statement said.
The first Strategic Exports and Technology Cooperation Dialogue focused on 'addressing export controls for enabling greater technology cooperation in strategic sectors'. This dialogue is aimed at building mutual understanding of systems and agreeing on areas for future cooperation in key sectors such as technology and defence.
Misri conveyed India's appreciation for the British government's 'expression of solidarity and support to India in the fight against terrorism'. Misri and Robbins also exchanged views on regional and global issues, including the Russia-Ukraine conflict and the situation in West Asia and the Indo-Pacific.
A readout from the British high commission said the two sides welcomed the 'significant breakthroughs' in the bilateral partnership since last year's foreign office consultations, including the announcement of the trade deal on May 6, which will strengthen trade links and increase bilateral trade already worth £43 billion by another £25.5 billion.
'Both agreed to work towards implementing the shared vision of the two prime ministers for an ambitious partnership between the UK and India over the next decade,' the readout said.
Robbins said he is visiting India to 'help advance one of the UK's most vital partnerships in the world'. He added, 'In a more complex world, there is strong ambition from both governments to take this partnership to even greater heights.'
During the visit, he is expected to meet a range of Indian officials, including on the G20 and home affairs.
Both sides agreed to hold the next foreign office consultations in London in 2026.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

IIT Madras, GRID India join hands to strengthen Tanzania's electric infra
IIT Madras, GRID India join hands to strengthen Tanzania's electric infra

United News of India

time24 minutes ago

  • United News of India

IIT Madras, GRID India join hands to strengthen Tanzania's electric infra

Chennai, June 5 (UNI) The Indian Institute of Technology-Madrs (IIT Madras) is collaborating with GRID-INDIA, a Central Public Sector Enterprise, to offer certification programs, conduct joint research, and deliver technical consultation projects to strengthen Tanzania's energy infrastructure. An MoU in this regard was inked recently IIT-Madras announced on Thursday. With an active presence in Africa through IITM Zanzibar, the institute is committed to building global partnerships for sustainable energy. GRID-INDIA, a Miniratna company under the Union Ministry of Power is the National system operator responsible for the reliable and secure management of India's electricity grid. The effort at IIT Madras will be led through the Energy Consortium, an industry-academia collaborative center of excellence focused on clean energy. Expanding horizons, this partnership creates new opportunities for cross-border knowledge exchange, applied research, and commercialisation of clean energy technologies. Prof Manu Santhanam, Dean (IC&SR), said 'IIT Madras Zanzibar was conceived to extend our academic and research excellence to international geographies with a focus on regional relevance. Our collaboration with GRID-INDIA allows us to leverage decades of experience in power systems research and industry engagement in India to deliver targeted capacity-building and applied technology programs for East Africa.' Emphasizing the significance of this MoU, Mr Paresh R. Ranpara, Director (HR), GRID-INDIA, said, 'We are looking forward to this collaboration with IIT Madras to catalyse and promote capacity building in Power Sector for Tanzanian and other east African professionals, with the Zanzibar campus as a focal point. This partnership demonstrates the shared vision of GRID-INDIA and IIT Madras Zanzibar for supporting resilient, future-ready energy systems across the globe.' It said this project encompasses strengthening the technical capabilities of Tanzanian power sector officials through Certification Program that aims to provide foundational knowledge for professionals in areas such as power systems, renewable energy, and energy management; Specialized Certification Programs with hands on trainings on topics such as power system protection and case studies; Joint Research Programs in areas such as microgrids, data analytics and AI and Consultation Projects to provide practical solutions and insights to address the evolving challenges in the Tanzanian power sector. UNI GV 1648

Walmart's Flipkart secures approval for direct lending in India
Walmart's Flipkart secures approval for direct lending in India

Economic Times

time30 minutes ago

  • Economic Times

Walmart's Flipkart secures approval for direct lending in India

Walmart's Flipkart has secured a lending licence from the Indian central bank and banking regulator, enabling it to offer loans directly to customers and sellers on its platform, according to documents reviewed by Reuters and a source. This is the first time the Reserve Bank of India has granted a large e-commerce player in India a non-bank finance company (NBFC) licence, allowing it to lend but not take deposits. Most e-commerce platforms currently offer loans in tie-ups with banks and NBFCs, but a lending licence will enable Flipkart - India's largest e-commerce firm - to lend directly, a more lucrative model for the group. The central bank issued its certificate of registration - a document that officially recognizes a company as an NBFC - to Flipkart Finance Private Limited on March 13. Reuters has reviewed a copy of both the certificate of registration and the approval letter also dated March 13. The approval has not been previously reported. Flipkart, in which U.S. retail behemoth Walmart holds a more than 80% stake, applied for the licence in 2022, according to the central bank's approval letter. Neither Flipkart nor the Reserve Bank of India immediately responded to Reuters' request for comments. The e-commerce giant may commence its lending operation "in a few months", according to a source aware of the matter who declined to be identified as the talks are private. A final decision on the launch will be subject to the completion of various internal processes such as the appointment of key management personnel and board members and the finalisation of business plans, the source said. Flipkart plans to lend directly to its customers on its popular e-commerce platform and through its fintech app the source said. It may also offer financing to sellers on the platform, they added. At present, the e-commerce giant offers personal loans to customers through tie-ups with lenders such as Axis Bank, IDFC Bank and Credit Saison. Flipkart, last valued at $37 billion in 2024 when it raised $1 billion in a funding round led by Walmart, is shifting its holding company from Singapore to India. Walmart also aims to take the 17-year-old company public. Walmart bought a controlling stake in Flipkart in 2018, which also gave it ownership of PhonePe, a fintech firm also preparing for an IPO. Earlier this year Flipkart's rival Amazon acquired a Bengaluru-based non-bank lender Axio, but the deal is yet to be cleared by the central bank.

India, US push to finalise interim tariff deal as Trump's deadline nears
India, US push to finalise interim tariff deal as Trump's deadline nears

Time of India

time30 minutes ago

  • Time of India

India, US push to finalise interim tariff deal as Trump's deadline nears

Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) began closed-door, two-day discussions in New Delhi on Thursday with Indian trade officials headed by chief negotiator Rajesh Agrawal, the sources said. "During the current round of talks, negotiators are discussing tariff cuts on specific sectors including agriculture and autos, and proposed benefits for Indian companies," one Indian government source, said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar The deal may be formally announced by month end, before the self-imposed deadline of July 9 by President Trump, but a statement is expected once meetings wrap up, possibly by Sunday, a second official said. Trade Minister Piyush Goyal, currently in Italy, may return to meet the delegation, the official added. Live Events The officials said spoke on the condition of anonymity due to the sensitivity of the discussions. Indian trade ministry didn't immediately respond to requests for comments. U.S. Commerce Secretary Howard Lutnick said in Washington on Monday that trade negotiations were progressing and a deal could be finalised soon. India and the U.S. agreed in February to work on a phased deal, aiming to lift bilateral trade to $500 billion by 2030. Officials said, India, buoyed by recent trade pact with the UK, and EU talks, is resisting U.S. demands to open its farm and dairy markets, citing potential rural backlash. "We are ready to offer a better deal than the UK pact, with average tariffs down to 10%, matching the U.S. base rate , and near-zero duties with quotas in exchange for market access and supply chain linkages," a third official said. Washington has flagged India's average farm tariff of 39%, with some duties reaching 45-50%. It is also pushing India to allow corn imports for ethanol production. Bilateral trade with the U.S., India's largest trading partner, rose to $129 billion in 2024, with India posting a $45.7 billion surplus.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store