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Economic Times
6 days ago
- Business
- Economic Times
"I think we understand each other well": UK PM Starmer, PM Modi share light moment at joint presser
ANI "I think we understand each other well": UK PM Starmer, PM Modi share light moment at joint presser Prime Minister Narendra Modi and his UK counterpart Keir Starmer shared a light moment during their joint press statement on Thursday, as the two leaders addressed the media following their talks in translations were being provided for questions and answers during the interaction, Prime Minister Modi, in a candid remark, said, "Don't bother, we can use English words in between. Don't worry about it."UK Prime Minister Keir Starmer responded with a smile, saying, "I think we understand each other well."The friendly exchange set the tone for the rest of the interaction, where Prime Minister Modi used a cricket analogy to describe the India-UK partnership. He said, "There may be a swing and a miss at times but we always play with a straight bat," adding that both countries are committed to building a high-scoring, solid partnership. PM Modi's remarks, made during joint press statements with UK Prime Minister Keir Starmer, came as India and the UK signed the Comprehensive Economic and Trade Agreement and the two leaders endorsed India-UK Vision 2035. The Indian Test cricket team is on a visit to England, and the series is seeing an intense struggle between bat and ball."I would be remiss not to mention cricket when India and the UK are coming together, especially during a Test series. For both of us cricket is not just a game but a passion. And also, a great metaphor for our partnership," PM Modi said."There may be a swing and a miss at times. But we always play with a straight bat. We are committed to building a high scoring solid partnership. The agreements concluded today, along with our Vision 2035, are milestones that carry forward this very spirit," he Modi, who was on a two-day visit to the UK, said that day marks a historic milestone in India-UK bilateral relations."I am pleased that, after years of dedicated efforts, the Comprehensive Economic and Trade Agreement between our two countries has been concluded today. This agreement is more than just an economic partnership; it is also a blueprint for shared prosperity. On the one hand, it paves the way for enhanced market access in the UK for Indian textiles, footwear, gems and jewellery, seafood, and engineering goods," he said."It will also unlock new opportunities for India's agricultural produce and processed food industry. Above all, this agreement will be especially beneficial for India's youth, farmers, fishermen, and the MSME sector. On the other hand, UK-made products such as medical devices and aerospace components will become more accessible and affordable for Indian consumers and industries," he Modi said that alongside the trade agreement, a consensus has also been reached on the Double Contribution Convention."This will inject new momentum into the service sectors of both countries, particularly in technology and finance. It will enhance the ease of doing business, reduce operational costs, and boost confidence of doing business. Additionally, the UK economy will benefit from access to skilled Indian talent," he said."These agreements will boost bilateral investment and generate new employment opportunities in both countries. Moreover, these agreements between two vibrant democracies and major global economies, will also contribute to strengthening global stability and shared prosperity," he added.
Indian Express
6 days ago
- Business
- Indian Express
Why India-UK deal on critical minerals points to New Delhi's anxiety over Chinese grip
The fine print of the India-UK Comprehensive Economic and Trade Agreement (CETA) has a signal towards India's growing anxiety over the Chinese chokehold on the critical minerals' supply chain, and how New Delhi is aiming to counter Beijing's dominance in the sector. This follows a similar initiative by the Quad (comprising India, Australia, Japan, and the United States) earlier this month, where they launched an initiative to secure supply chains of critical minerals, as worries grow around China's stranglehold over the resources, which are vital to new technologies. The India-UK Vision 2035, a document outlining the broader collaborative goals of the free trade agreement between the two said that they will work together to develop cutting-edge technology and research, building on the Technology Security Initiative, focused on future telecoms, artificial intelligence and critical minerals, laying the ground for future collaboration on semiconductors, quantum, bio-technology and advanced materials. To further cooperation in critical minerals, the two countries will also establish a UK-India Critical Minerals Guild to 'transform financing standards and innovation', according to a joint statement by the two. 'Together, the two sides will prioritise processing (of critical minerals), R&D, recycling, managing risk to supply chains, market development etc. and will champion circular economy principles and advance traceability,' it said. As part of the deal with the UK, the second phase of the UK-India Critical Minerals Supply Chain Observatory (SCO) will receive £1.8 million in new funding to set up a satellite campus at the Indian School of Mines in Dhanbad. The funding will also support developing the world's largest digital data infrastructure on the critical minerals value chain, according to an official joint statement. The SCO is housed within the Industrial Resilience Research Group at the University of Cambridge's Institute for Manufacturing. The first phase, which involved sharing, monitoring, and analysing supply chain data on critical minerals like lithium, copper, nickel, and cobalt, was launched in collaboration with IIT Bombay in October last year. Critical minerals, which include rare earth elements (REEs), are an important component of various cutting-edge hardware, ranging from semiconductors and electric vehicles to jet fighters. Rare earth magnets, especially neodymium-iron-boron (NdFeB) magnets, are crucial for EV manufacturing, particularly in electric motors. They provide the strong magnetic fields needed for efficient and powerful electric motors, including traction motors that drive EVs. These magnets also play a major role in other EV components such as power steering systems, wiper motors, and braking systems. China has a near monopoly over the production of these rare earth magnets. Following US President Donal Trump's tariff onslaught on other countries in April, China implemented specifically designed bureaucratic hurdles for foreign companies looking to source critical minerals from the country. While the availability of rare earth metals is not limited to China, it is in the efficient processing of these critical elements where Beijing has a substantial lead, which was once enjoyed by the US and Japan. In recent years, Japan has been able to restart some of its minerals processing industry owing to government policies, but countries like the US and India are heavily dependent on Chinese exports of these metals. In response to the US administration's reciprocal tariff heat, China restricted exports of seven heavy rare earth metals including samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, as well as rare earth magnets. Earlier, it had also banned exports to the US of gallium, germanium, antimony, and other key high-tech materials with potential military applications. India's nascent but slowly growing EV industry has faced a direct impact of Chinese restrictions on export of rare earth magnets. None of the applications made by Indian carmakers to source the critical minerals have yet been accepted by Beijing, with automakers staring at shortages and potential setbacks to production plans. China requires companies to secure an end-user licence, along with an endorsement from the local government that the minerals will not be used for military applications. However, the fact that China has not yet cleared any application from Indian entities is a cause of concern. Worrying still is a fresh insistence from Beijing that instead of sourcing magnets separately, carmakers buy entire electric motor assemblies from Chinese companies, or simply wait for the Chinese authorities to issue export permits to local rare earth magnet producers, as has been done, according to Reuters, for at least four magnet producers that include suppliers to Volkswagen — the first granted since Beijing restricted shipments earlier this year. The German carmaker is said to have lobbied hard with Beijing to get this done. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More Soumyarendra Barik is Special Correspondent with The Indian Express and reports on the intersection of technology, policy and society. With over five years of newsroom experience, he has reported on issues of gig workers' rights, privacy, India's prevalent digital divide and a range of other policy interventions that impact big tech companies. He once also tailed a food delivery worker for over 12 hours to quantify the amount of money they make, and the pain they go through while doing so. In his free time, he likes to nerd about watches, Formula 1 and football. ... Read More
Indian Express
6 days ago
- Politics
- Indian Express
Those misusing democratic freedoms must be held to account: PM Modi
India and the UK reaffirmed cooperation in a number of fields, including defence, people-to-people ties, strengthening cooperation against extremist elements and repatriation of economic offenders, during Prime Minister Narendra Modi's meeting with his British counterpart Keir Starmer at Chequers, the countryside residence of the UK Prime Minister. Addressing the media alongside Starmer, Modi raised India's concern over increasing activities of pro-Khalistani elements in the UK and said that forces with extremist ideologies must not be allowed to misuse democratic freedoms. He said both India and the UK are 'united in our view that there can be no place for double standards in the fight against terrorism' and thanked the British government for its 'strong' condemnation of the Pahalgam terror attack. 'Those who misuse democratic freedoms to undermine democracy itself must be held to account,' the Prime Minister said in his media statement. India has been flagging its concerns to the UK over the activities of pro-Khalistan elements on British soil, especially after the attack on the Indian High Commission in London in March 2023. Later, during a media briefing, Foreign Secretary Vikram Misri said the issue figured in the delegation-level talks, and that the UK has assured cooperation in this regard. Misri also said that Modi and Starmer expressed a commitment to strengthening the global fight against terrorism. 'It was noted that extremism and radicalisation pose a threat to both societies and that there is a need to further enhance bilateral collaboration and cooperation to deal with the scourges of terrorism, extremism and radicalisation,' he said. In terms of c The Prime Ministers of India and the United Kingdom, during their meeting in London, endorsed the new 'India-UK Vision 2035' that reaffirms their shared commitment to unlocking the full potential of a revitalised partnership, said a joint statement released in the wake of the visit. This ambitious agreement underscores the two nations' resolve to work together for mutual growth, prosperity and to shape a prosperous, secure and sustainable world in a time of rapid global change, it said. The India-UK Vision 2035 sets clear strategic goals and milestones, tracking a path for sustained collaboration. PM Modi mentioned an education and skills partnership to deepen transnational collaborations between the UK and Indian universities, including the establishment of campuses of leading universities in each other's countries. The two also decided to build on the Technology Security Initiative, focused on future telecoms, AI and critical minerals, laying the ground for future collaboration on semi-conductors, quantum, bio-technology and advanced materials. Later, PM Modi called upon King Charles III at his Sandringham Estate in Norfolk, eastern England. He presented a tree sapling to the King as part of his 'Ek Ped Maa Ke Naam' environmental initiative. Modi said both also covered aspects such as Yoga and Ayurveda as well as the India-UK Free Trade Agreement signed between him and PM Starmer. 'Had a very good meeting with His Majesty King Charles III,' PM Modi posted on X. 'We discussed different aspects of India-UK relations, including the ground covered in trade and investment in the wake of CETA and Vision 2035. Other subjects of discussion included education, health and wellness, particularly Yoga and Ayurveda, which are subjects His Majesty is very passionate about. We also talked about environmental protection and sustainability,' he said. The sapling he presented to the King will be planted on the estate during planting season in the autumn, Foreign Secretary Vikram Misri told reporters during a Ministry of External Affairs (MEA) briefing around the Prime Minister's visit. Divya A reports on travel, tourism, culture and social issues - not necessarily in that order - for The Indian Express. She's been a journalist for over a decade now, working with Khaleej Times and The Times of India, before settling down at Express. Besides writing/ editing news reports, she indulges her pen to write short stories. As Sanskriti Prabha Dutt Fellow for Excellence in Journalism, she is researching on the lives of the children of sex workers in India. ... Read More
Time of India
7 days ago
- Business
- Time of India
Can't let extremists exploit democracy, Modi tells UK PM Starmer; raises the issue of Khalistanis
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: Prime Minister Narendra Modi on Thursday raised with his UK counterpart Keir Starmer, the issue of Khalistani extremists urging him to act against "extremist ideology" that "misuse democratic freedoms to undermine democracy".Speaking in London after the landmark FTA was signed, Modi said, "We express gratitude to PM Starmer and his Government for strongly condemning the Pahalgam terror attack . We are united in the belief that there is no place for double standards in the fight against terrorism.""We also agree that elements with extremist ideology can't be allowed to misuse democratic freedom. Those who misuse democratic freedoms to undermine democracy itself, must be held to account," the PM pointed out in reference to Khalistani extremists operating out of UK extradition from the UK, Modi said, "Regarding the extradition of economic offenders, our agencies will work with coordination and cooperation."New Delhi is continuing to "make the case" for the extradition of fugitives Lalit Modi, Nirav Modi, and Vijay Mallya from the UK as part of ongoing efforts to secure their return to face legal action in and Starmer endorsed the new ' India-UK Vision 2035 ' roadmap that reaffirms their shared commitment to unlocking the full potential of a revitalised of this vision document will be reviewed annually by India's external affairs minister and UK's foreign secretary. The focused ministerial mechanisms will address cross sectoral issues including technology, trade, investment, and financial sector part of the plan, the two sides decided to promote strategic and defence industry collaboration through the adoption of a 10-year defence industrial roadmap and a joint mechanism at senior-official level to monitor its implementation and also decided to deepen collaboration in advanced technologies and complex weapons.
Malaysia Sun
7 days ago
- Business
- Malaysia Sun
"India-UK Vision 2035 infuses fresh ambition to Comprehensive Strategic Partnership": EAM Jaishankar
London [UK] July 24 (ANI): External Affairs Minister S Jaishankar on Thursday said that the India-UK Vision 2035 announced today by Prime Minister Narendra Modi and UK Prime Minister Keir Starmer will redefine the partnership between India and the UK. Jaishankar said that the India-UK Vision 2035 will provide fresh ambition to the Comprehensive Strategic Partnership between the two nations. In a post on X, he said, 'The India-UK Vision 2035 announced today by PM Narendra Modi & PM Keir Starmer will redefine the partnership and make our ties future ready. It infuses fresh ambition to the Comprehensive Strategic Partnership encompassing all sectors. The vision will guide our relations to be stronger, deeper and more beneficial for both our peoples.' Earlier in the day, UK Prime Minister Keir Starmer said that India and the UK launched the India-UK Vision 2035 strategy to build on their partnership. 'The step-up in the relationship we discussed in the autumn of last year, and that's why alongside this trade deal, I am delighted that we are building on our partnership by launching India-UK vision 2035 strategy pledging to work more closely on areas such as defence, migration, climate, education and health,' he said. Starmer pledged to continue work on the Technology Security Initiative, enhancing opportunities for both countries. 'We will also build on the fantastic work we already do in technology and innovation, celebrating the one-year anniversary of the landmark Technology Security Initiative. Making the most of the opportunities it represents for both of our countries,' he said. Jaishankar also hailed the signing of the India-UK Comprehensive Economic and Trade Agreement (CETA) as a momentous development. Jaishankar said that the agreement will stabilise global trade at a time of volatility. In a post on X, he said, 'The India-UK Comprehensive Economic and Trade Agreement (CETA) signed today is a momentous development. CETA will deepen our Comprehensive Strategic Partnership and impart a new energy to our exchanges. It will also help stabilise global trade at a time of volatility. Truly a watershed in our ties.' (ANI)
