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NDTV
5 days ago
- Business
- NDTV
Goa's Feni, Kerala's Toddy To Get Shelf Space In UK Stores After Trade Deal
New Delhi: India's unique traditional craft beverages, including Goa's feni, Nashik's artisanal wines, and Kerala's toddy, are set to gain recognition in the UK as the two countries signed the free trade agreement on Thursday. With this, ethnic alchoBev Indian drinks will not only enjoy their traditional Geographical Indication (GI) protection but also gain access to developed markets as the UK, where demand for natural and organic products is on the rise. They will offer their unique taste, distinct flavour profile and heritage to the British tumblers. The FTA will not only help place traditional Indian craft beverages on the shelf space in the UK, along with Scotch Whisky and others, but also help explore niche channels such as hospitality, said a Commerce & Industry ministry official. "Indian craft drinks like feni from Goa, artisanal wines from Nashik, and toddy from Kerala will now enjoy Geographical Indication (GI) protection and shelf space in high-end UK retail and hospitality chains," the official added. This will be a major boost for the government, which is promoting exports of Indian alcoholic beverages to global markets. Though this is a new segment, the government expects the country's exports of alcoholic beverages to reach USD 1 billion by 2030 from the current USD 370.5 million. Earlier in April, APEDA (Agricultural and Processed Food Products Export Development Authority) said Indian alcoholic beverages have huge potential in global markets and the country has a lot of good products, including gin, beer, wine, and rum, to offer to the world. India is currently ranked 40th in the world for alcoholic beverage exports, and the target is to be among the top 10 exporters in the world in the coming years. The country's alcoholic beverages exports stood at over Rs 2,200 crore in 2023-24. The major destinations include the UAE, Singapore, the Netherlands, Tanzania, Angola, Kenya and Rwanda.
New Indian Express
7 days ago
- Business
- New Indian Express
Zaheerabad Industrial Area named priority node under Hyd-Nagpur corridor: Centre
HYDERABAD: Union Minister of State for Commerce & Industry Jitin Prasada on Tuesday informed Lok Sabha that the Centre has identified Zaheerabad Industrial Area (ZIA) as a priority node under the Hyderabad-Nagpur Industrial Corridor (HNIC) National Industrial Corridor Development Programme (NICDP). In a written reply to a question raised by Congress MP Kadiyam Kavya, the Union minister said that the project under HNIC node located in Sangareddy district has an activation area of 3,245 acres, with a total project cost of Rs 2,360 crore. The share of Union government's contribution, through National Industrial Corridor Development and Implementation Trust (NICDIT), has been approved for Rs 596 crore as equity and Rs 655 crore towards debt, he added. He further stated that a Special Purpose Vehicle (SPV) namely 'NICDIT Zaheerabad Industrial Smart City Ltd' has been incorporated for implementation of the project and the tendering works for selection of Project Management for New Cities (PMNC) are in progress.
India Gazette
19-06-2025
- Business
- India Gazette
Piyush Goyal showcases India's strategic economic vision at India Global Forum 2025 in London
New Delhi [India], June 19 (ANI): Union Minister of Commerce & Industry, Piyush Goyal, showcased India's strategic global outlook and economic leadership at the India Global Forum (IGF) 2025 in London today, the Ministry of Commerce and Industry added in a statement. The release stated that the Minister's visit marks a significant moment following the historic signing of the India-UK Free Trade Agreement (FTA) in May 2025. Delivering the keynote address at the IGF Mainstage Plenary Session titled 'From Agreement to Action: The UK-India FTA,' the Union Minister reaffirmed India's commitment to transitioning the FTA from a negotiated text into a transformative economic partnership. He was joined in conversation by the UK Secretary of State for Business and Trade, Jonathan Reynolds. Union Minister Goyal described the FTA as a reflection of shared ambition between two vibrant democracies. He stated that the agreement not only enhances bilateral trade but also demonstrates India's ability to negotiate balanced and future-oriented trade frameworks aligned with its national interests. Outlining the next phase of implementation, Goyal highlighted key priorities such as strengthening institutional mechanisms for joint governance, unlocking early benefits for SMEs and startups, and facilitating smooth mobility of skilled professionals across sectors. On June 19th, the Union Minister participated in a special session on 'UK-India Science, Technology and Innovation Collaboration' at the Science Museum in London. The session explored opportunities for UK stakeholders to contribute to India's expanding investments in digital public infrastructure, sustainable manufacturing, and green technologies. Discussions also covered efforts to make India a global manufacturing hub through Make in India, PLI schemes, and enhancing collaboration in sectors such as fintech, artificial intelligence, and creative industries. The Free Trade Agreement's role in deepening cooperation in critical technologies, defence production, and advanced manufacturing was also highlighted. The session further examined how innovations like UPI and CoWIN can be scaled globally through bilateral collaboration. The Minister's participation underscores India's continued commitment to strengthening its comprehensive strategic partnership with the United Kingdom. By leveraging the India-UK FTA, both nations aim to unlock new avenues in goods, services, technology, and innovation for shared prosperity. (ANI)
Business Standard
19-06-2025
- Business
- Business Standard
"This Partnership Is a Good Marriage" - Piyush Goyal Kicks Off IGF London 2025 with UK Trade Secretary Jonathan Reynolds
PRNewswire London [UK], June 19: On the opening day of India Global Forum London, Union Minister of Commerce & Industry Piyush Goyal and UK Secretary of State for Business and Trade Jonathan Reynolds jointly defended the recently finalised India-UK Free Trade Agreement, pushing back against criticism of national insurance exemptions granted to short-term Indian workers. * Goyal and Reynolds push back against criticism over insurance exemptions, marking first joint public appearance since FTA finalisation In a rare joint session at the Queen Elizabeth II Centre, both leaders addressed concerns surrounding the national insurance exemption for short-term Indian workers, a provision included in the deal that has drawn scrutiny from segments of the British media and political circles. Piyush Goyal dismissed criticism that the insurance waiver was a one-sided concession. "It's unfair to call it a giveaway," he said. "The agreement provides stability and predictability to business, and benefits workers from both sides. In fact, similar arrangements exist in many countries, and this is a win-win for mobility and trade." Reinforcing the principle of fairness, Goyal added: "They should not be double taxed, as they pay social security costs in the UK and India." UK Trade Secretary Jonathan Reynolds backed the provision, asserting that British workers would not be negatively impacted. He said: "No British worker is undercut by this UK-India FTA agreement. Business mobility has improved due to this; in turn, it has improved access to services and procurement." Both leaders stressed on the strategic alignment between the two nations. UK Secretary Jonathan Reynolds reinforced the need for practical cooperation: "We have built a relationship that allows us to deliver an ambitious agreement like this one. India is one of the most exciting countries in the world, and actually one of the most important; with the problems we face globally, I can't see any way to fix those without India playing a leading role." This was the first public appearance by the two ministers since the FTA's conclusion, and their joint presence on Day 1 of IGF London sent a strong signal of bilateral resolve. Goyal added: "There is hardly anything in which India and the UK compete; we complement each other. I believe this partnership is a good marriage. I see bilateral trade doubling in the next five years." Reynolds also underscored the strength of the bilateral relationship and optimism about the future: "India and the UK have built a relationship to deliver the FTA. I am genuinely excited by the future opportunities for both countries." Echoing this vision of outcome-driven collaboration, Manoj Ladwa, Founder and Chairman of India Global Forum, stated: "We at IGF are building partnerships for the future. We are connecting the dots across sectors, across geographic areas, and across generations. Each initiative is outcome-driven, measurable and future-focused. Powered by three key forces--Technology, Talent and Capital--we are linking Global Britain and Global India in tangible and transformative ways." Day 1 of IGF London 2025 set the stage for a high-powered three-day summit featuring 100+ speakers, 1000+ participants, and sessions across iconic London venues. With bold conversations spanning AI, energy transition, healthtech, geopolitics, and the creative economy, the forum was driving forward the momentum of the UK-India Free Trade Agreement. About India Global Forum India Global Forum tells the story of contemporary India. The pace of change and growth India has set itself is an opportunity for the world. IGF is the gateway for businesses and nations to help seize that opportunity. To know more, click here For Media Enquiries Contact Social Media Handles & Hashtag to Follow
Yahoo
19-06-2025
- Business
- Yahoo
"This Partnership Is a Good Marriage" - Piyush Goyal Kicks Off IGF London 2025 with UK Trade Secretary Jonathan Reynolds
Goyal and Reynolds push back against criticism over insurance exemptions, marking first joint public appearance since FTA finalisation LONDON, June 19, 2025 /PRNewswire/ -- On the opening day of India Global Forum London, Union Minister of Commerce & Industry Piyush Goyal and UK Secretary of State for Business and Trade Jonathan Reynolds jointly defended the recently finalised India-UK Free Trade Agreement, pushing back against criticism of national insurance exemptions granted to short-term Indian workers. In a rare joint session at the Queen Elizabeth II Centre, both leaders addressed concerns surrounding the national insurance exemption for short-term Indian workers, a provision included in the deal that has drawn scrutiny from segments of the British media and political circles. Piyush Goyal dismissed criticism that the insurance waiver was a one-sided concession. "It's unfair to call it a giveaway," he said. "The agreement provides stability and predictability to business, and benefits workers from both sides. In fact, similar arrangements exist in many countries, and this is a win-win for mobility and trade." Reinforcing the principle of fairness, Goyal added: "They should not be double taxed, as they pay social security costs in the UK and India." UK Trade Secretary Jonathan Reynolds backed the provision, asserting that British workers would not be negatively impacted. He said: "No British worker is undercut by this UK–India FTA agreement. Business mobility has improved due to this; in turn, it has improved access to services and procurement." Both leaders stressed on the strategic alignment between the two nations. UK Secretary Jonathan Reynolds reinforced the need for practical cooperation: "We have built a relationship that allows us to deliver an ambitious agreement like this one. India is one of the most exciting countries in the world, and actually one of the most important; with the problems we face globally, I can't see any way to fix those without India playing a leading role." This was the first public appearance by the two ministers since the FTA's conclusion, and their joint presence on Day 1 of IGF London sent a strong signal of bilateral resolve. Goyal added: "There is hardly anything in which India and the UK compete; we complement each other. I believe this partnership is a good marriage. I see bilateral trade doubling in the next five years." Reynolds also underscored the strength of the bilateral relationship and optimism about the future: "India and the UK have built a relationship to deliver the FTA. I am genuinely excited by the future opportunities for both countries." Echoing this vision of outcome-driven collaboration, Manoj Ladwa, Founder and Chairman of India Global Forum, stated: "We at IGF are building partnerships for the future. We are connecting the dots across sectors, across geographic areas, and across generations. Each initiative is outcome-driven, measurable and future-focused. Powered by three key forces—Technology, Talent and Capital—we are linking Global Britain and Global India in tangible and transformative ways." Day 1 of IGF London 2025 set the stage for a high-powered three-day summit featuring 100+ speakers, 1000+ participants, and sessions across iconic London venues. With bold conversations spanning AI, energy transition, healthtech, geopolitics, and the creative economy, the forum was driving forward the momentum of the UK–India Free Trade Agreement. About India Global ForumIndia Global Forum tells the story of contemporary India. The pace of change and growth India has set itself is an opportunity for the world. IGF is the gateway for businesses and nations to help seize that opportunity. To know more, click here For Media Enquiries Contact Social Media Handles & Hashtag to Follow Twitter: @IGFUpdates & @manojladwa LinkedIn: India Global Forum #IGFLondon Photo - - View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
