Latest news with #DoubleTaxationAvoidanceConvention
Qatar Tribune
21-07-2025
- Business
- Qatar Tribune
India-UK FTA to boost trade by €25.5 billion annually: UK official
ANI New Delhi Deputy Trade Commissioner for South Asia at the British High Commission, Anna Shotbolt has said that the India-UK Free Trade Agreement is projected to increase bilateral trade between the two countries by Euro 25.5 billion every year. She highlighted that under this FTA, there are provisions for tariff reductions on 90 per cent of traded goods between the two countries. 'However, it is not only about tariffs, which are indeed a crucial aspect that will benefit many industries. Creative companies will also benefit through stronger copyright protections, and the services sector will see gains as well. The Double Taxation Avoidance Convention will also help workers on both sides, creating more transparency and certainty,' she said at an event organised by industry body PHDCCI in the national captial. The India-UK Free Trade Agreement (FTA), signed and finalised on May 6 after nearly three years of negotiations, is one of the most comprehensive free trade agreements ever entered into by India. Ranjeet Mehta, CEO and Secretary General, PHDCCI, emphasised the importance of the social security clause that supports Indian professionals going to the UK and said that we must take advantage of this FTA. As PHDCCI celebrates 120 years of its legacy, we plan to mount a business delegation to the UK this September, as we are keen to explore the opportunities this agreement presents, added Mehta. 'India's vision of net zero by 2070 also requires businesses, especially MSMEs to be sustainable and technologically equipped. Whether in services or products, India should collaborate more with the UK, which presents a large market for Indian MSMEs,' he said. TS Vishwanath, Founder & Executive Chairman, VeK Policy Advisory & Resource Firm, said, 'FTA is not just about trade but about building bilateral expertise. 'We should seriously explore how both countries can invest in each other through a strong EODB environment. We must engage directly with industries to identify challenges and build robust relationships.' Prof Rakesh Mohan JoshI, Vice Chancellor, IIFT said that the retail market size in India is USD 1 trillion, while that of Britain is at around USD 386.3 billion presenting vast potential for both economies. He further added that the inclusion of the Double Taxation Avoidance Convention is also a commendable step. Kishore Jayaraman, OBE, Global Board Director & Chairman India, UK India Business Council, stated that this is beginning of a new era, the FTA enables both nations to leverage their capacities and capabilities. 'Beyond trade, we must also explore sectoral synergies, as India has the potential to significantly contribute to the economy of both nations,' he added. Ajay Aggarwal, President, Toy Association of India, pointed out major areas where Indian businesses can benefit in the UK market. Elaborating about the Toy industry which is growing rapidly and has shifted from being import-dependent to now producing around 80 per cent domestically, he emphasised that there is enormous scope for collaboration. For eg, skilled products such as leather toys, an area where the UK can benefit. India has an access to competitive products with better market offerings, and with tariff reductions, it will allow us to enhance our presence in UK, he said.
Business Standard
21-07-2025
- Business
- Business Standard
India-UK FTA set to boost bilateral trade by 25.5 billion annually, says British high commission official
Ms. Anna Shotbolt, Deputy Trade Commissioner for South Asia at the British High Commission pointed out that the IndiaUK Free Trade Agreement is projected to increase bilateral trade between the two countries by 25.5 billion every year, at a PHDCCI organised Interactive Session on IndiaUK Free Trade Agreement: The Way Forward, She highlighted that under this FTA, there are provisions for tariff reductions on 90% of traded goods between the two countries. However, it is not only about tariffs which are indeed a crucial aspect that will benefit many industries. Creative companies will also benefit through stronger copyright protections, and the services sector will see gains as well. The Double Taxation Avoidance Convention will also help workers on both sides, creating more transparency and certainty, she added.
India Today
07-06-2025
- Politics
- India Today
Partners must understand India's zero-tolerance on terror: Jaishankar in UK talks
India is firmly committed to a "zero tolerance" policy against terrorism and will not accept any equivalence between terrorists and their victims, External Affairs Minister S Jaishankar said on Saturday during discussions with UK Foreign Secretary David Lammy in New comments come amid the nation's concern over some countries drawing parallels between India and Pakistan following the recent military standoff. Lammy arrived in New Delhi for a two-day visit to review and strengthen the India-UK strategic his opening remarks, Jaishankar expressed appreciation for the UK's condemnation of the recent "barbaric" terror attack in Pahalgam and its continued support for India's counter-terrorism efforts. 'Let me thank the Government of the United Kingdom for the strong condemnation of the barbaric terrorist attack in Pahalgam in the Union Territory of Jammu & Kashmir and for your solidarity and support to India in the fight against terrorism,' Jaishankar said.'We practice a policy of zero tolerance against terrorism and expect our partners to understand it, and we will never countenance perpetrators of evil being put at par with its victims,' he the talks, India reportedly raised concerns about cross-border terrorism originating from Pakistan. The UK had previously engaged with both India and Pakistan last month, encouraging de-escalation during their military may be noted that before visiting India, Lammy had travelled to Islamabad on May 16, where he welcomed the May 10 agreement between the two neighbours to cease other developments, Jaishankar described the recently concluded India-UK Free Trade Agreement and the Double Taxation Avoidance Convention as major milestones in bilateral ties during the InMust Watch IN THIS STORY#Subrahmanyam Jaishankar
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First Post
06-05-2025
- Business
- First Post
India, UK ink landmark free trade agreement concluding years of negotiations, PM Modi announces
'These landmark agreements will further deepen our Comprehensive Strategic Partnership, and catalyse trade, investment, growth, job creation, and innovation in both our economies,' PM Modi said read more India and the United Kingdom finalised a landmark bilateral free trade agreement (FTA) on Tuesday (May 6). Prime Minister Narendra Modi announced the completion of the deal in a post on social media platform X (formerly Twitter). The deal, which PM Modi described as 'ambitious and mutually beneficial,' also includes a Double Taxation Avoidance Convention. It is expected to catalyse trade, investment, job creation, and innovation across both economies. 'These landmark agreements will further deepen our Comprehensive Strategic Partnership, and catalyse trade, investment, growth, job creation, and innovation in both our economies.' STORY CONTINUES BELOW THIS AD The agreement comes after years of negotiations and is seen as a major win for both governments. This is a breaking development. Please refresh the page for the latest updates.
