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Fibre2Fashion
16 hours ago
- Business
- Fibre2Fashion
India FTA offers competitive advantage to UK in advanced manufacturing
The free trade agreement (FTA) negotiations concluded with India puts the United Kingdom at 'a genuine competitive advantage' in the advanced manufacturing sectors like automotive and machinery, UK secretary of state for business and trade Jonathan Reynolds told the House of Commons recently. 'This trade agreement is a huge economic win for the UK—the biggest trade deal since Brexit and the best deal that India has ever offered. As we have heard, it is estimated to increase bilateral trade by £25.5 billion (~$34.63 billion), UK GDP [gross domestic product] by £4.8 billion and wages by £2.2 billion each year in the long run. It will mean new opportunities for businesses in every part of the United Kingdom," Reynolds said during a debate on the bilateral FTA agreed last month. The FTA with India puts the UK at 'a genuine competitive advantage' in the advanced manufacturing sectors like automotive and machinery, UK secretary of state for business and trade Jonathan Reynolds told the House of Commons recently. “…It is estimated to increase bilateral trade by £25.5 billion (~$34.63 billion), UK GDP by £4.8 billion and wages by £2.2 billion each year in the long run,†he said. India is traditionally a protectionist economy and the world's fastest growing big economy, he noted. 'Whether it is for goods or services….or the West Midlands as a whole, there is so much good stuff here to celebrate,' the minister said. The UK-India Week begins next week as part of the annual India Global Forum (IGF) summit in London and Indian minister of commerce and industry Piyush Goyal is scheduled to address the forum. It will also mark the launch of the 2025 edition of the India Meets Britain Tracker', which analyses the investment flows by Indian companies into the United Kingdom. Fibre2Fashion News Desk (DS)
Business Standard
17 hours ago
- Entertainment
- Business Standard
Inaugural IGF Archer Amish Award to Spotlight Contemporary Indian Stories on Global Stage
PRNewswire London [UK], June 16: India Global Forum is set to announce the winner of the inaugural IGF Archer Amish Award for Storytellers next week. Launched at IGF London 2024, in partnership with internationally acclaimed authors Jeffrey Archer and Amish Tripathi, and sponsored by the House of Abhinandan Lodha, this distinguished literary prize, honours contemporary Indian fiction that reflects the diversity, aspirations, and vibrant energy of modern India, strengthening cultural bridges and fostering richer global dialogue. * $25,000 literary prize to amplify Indian voices globally With a generous prize of $25,000, one of the biggest for fiction globally and alongside the ranks of some of the world's top literary prizes, the IGF Archer Amish Award positions Indian literature prominently on the world map, celebrating exceptional Indian authors whose works vividly capture the complexity and dynamism of modern India. Rt Hon Lisa Nandy MP, Secretary of State for Culture, Media, and Sport, UK Government, will present the award along IGF Chairman Manoj Ladwa and authors Archer and Amish. Her presence highlights the UK's evolving cultural policy and funding vision, particularly the increased significance of India as a pivotal creative partner post-FTA. The distinguished finalists vying for this prestigious accolade include Nitya Neelakanthan, author of Navapashanam - The Quest for the Nine Magical Poisons; Yogesh Pandey, author of The Kill Switch; and Dr. Shalini Mullick, author of The Way Home. Commenting on the vision behind this pioneering initiative, Manoj Ladwa, Founder and Chairman of India Global Forum, says "The IGF Archer Amish Award embodies our commitment to amplifying Indian voices globally, championing narratives that spark cultural conversations and deepen mutual understanding at a critical juncture in UK-India relations." "Awards are very important because they give recognition, and they allow someone who had slaved night and day to achieve something to realise they're not on their own, stuck in a box," says Lord Archer, the prolific British author of bestsellers such as 'Kane and Abel' and 'The Clifton Chronicles.' Renowned author Amish Tripathi, who co-conceived the award and leads the judging panel, adds " This is an award that aims to encourage the gift of storytelling itself, and that is one of the key drivers. It is also around Indians talking about themselves, their own stories. The way Westerners see India, in a lot of ways through the Western lens, it is one narrative, one lens, which is very different from how Indians see India." The award ceremony is scheduled to take place at the prestigious Queen Elizabeth II Centre in London on 18 June, as part of IGF London 2025, marking a significant moment in the ongoing cultural dialogue between the UK and India. 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 Social Media Handles & Hashtag to Follow Twitter: @IGFUpdates & @manojladwa LinkedIn: India Global Forum #IGFLondon Photo -
Time of India
2 days ago
- Business
- Time of India
‘Best deal India has ever offered': India-UK trade pact seen as landmark win in UK Parliament; deal hailed for boosting GDP
The Free Trade Agreement (FTA) concluded with India places Britain at a 'genuine' competitive advantage in advanced manufacturing sectors, UK Business and Trade Secretary Jonathan Reynolds told the House of Commons during a debate this week. Fielding questions on the scope and benefits of the deal — agreed last month — Reynolds described the FTA as a major economic win for the UK and 'the best deal that India has ever offered'. 'On advanced manufacturing… a set of advantageous positions has been agreed, putting this country at a genuine competitive advantage, particularly in relation to sectors such as automotive and machinery,' Reynolds said in response to British Sikh Labour MP Gurinder Singh Josan, as quoted PTI. 'India is traditionally a very protectionist economy, and it is the world's fastest growing big economy. Whether it is for goods or services… or the West Midlands as a whole, there is so much good stuff here to celebrate,' the minister added. The UK government estimates the deal could boost bilateral trade by GBP 25.5 billion annually in the long term. The Department for Business and Trade (DBT) projects a GDP increase of GBP 4.8 billion and wage growth of GBP 2.2 billion per year over the next decade. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cervecería Nacional CFD: Calcula cuánto podrías ganar invirtiendo solo $100 Empieza a invertir Inscríbete ahora Undo The debate in Parliament comes just ahead of UK-India Week, which begins next week as part of the India Global Forum (IGF) summit in London. Minister of Commerce and Industry Piyush Goyal is among the high-level speakers expected at the event. UK-India Week will also mark the launch of the 2025 edition of the 'India Meets Britain Tracker', an annual analysis by Grant Thornton and the Confederation of Indian Industry (CII) that maps investment flows from India to the UK. 'Indian companies continue to play a pivotal role in the UK's growth story — from job creation to innovation. This year's tracker showcases their growing diversification, scale and resilience, and reflects the growing maturity and confidence of Indian enterprise on the global stage,' said Anuj Chande, Partner and Head of South Asia Business Group at Grant Thornton. 'Indian businesses are no longer just investing abroad – they are transforming global economies,' said India Global Forum founder Manoj Ladwa. According to last year's report, a record 971 Indian-owned companies were operating in the UK — a number that has continued to rise. With India and the UK now ranked as the fourth and sixth largest economies respectively, the FTA is being seen as a critical pillar in one of the world's most strategic investment corridors. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
4 days ago
- Business
- Business Standard
Indian Investment into UK At an All Time High
PRNewswire New Delhi [India] / London [UK], June 13: At a pivotal moment for the UK-India economic corridor, following the signing of the Free Trade Agreement, Grant Thornton, in collaboration with India Global Forum and Confederation of Indian Industry, will launch the latest edition of the India Meets Britain Tracker at IGF London on 18th June. This highly anticipated report will deliver a powerful, data-led narrative of how Indian companies are reshaping the UK economy. * Grant Thornton's India Meets Britain Tracker 2025 to be unveiled at IGF London on 18 June. The report will be officially launched during a special session at the Queen Elizabeth II Centre, as part of IGF London's flagship programme. With the UK and India ranking as the 6th and 4th largest economies respectively, this report offers an incisive look at one of the world's most strategic investment corridors. The launch is a cornerstone moment and further builds on IGF's ongoing efforts through the UK-India Future Forum to accelerate high-value collaborations and economic synergies between the two nations. By combining on-the-ground insights with granular data analysis, the report offers a roadmap for deeper engagement and evidence-based policymaking in the UK-India corridor. Manoj Ladwa, Founder and Chairman of India Global Forum, said: "Indian businesses are no longer just investing abroad - they are transforming global economies. Our collaboration with Grant Thornton provides a powerful lens into this evolution and reinforces IGF's mission to shape and support the UK-India economic partnership with data, dialogue and delivery." Anuj Chande, Partner and Head of South Asia Business Group at Grant Thornton, added: "Indian companies continue to play a pivotal role in the UK's growth story--from job creation to innovation. This year's tracker showcases their growing diversification, scale and resilience, and reflects the growing maturity and confidence of Indian enterprise on the global stage." The official report launch will bring together senior business leaders, policymakers, and government representatives from both countries, underscoring the strategic significance of Indian investment in shaping the UK's future economy. 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
Yahoo
4 days ago
- Business
- Yahoo
Indian Investment into UK At an All Time High
Grant Thornton's India Meets Britain Tracker 2025 to be unveiled at IGF London on 18 June. NEW DELHI and LONDON, June 13, 2025 /PRNewswire/ -- At a pivotal moment for the UK–India economic corridor, following the signing of the Free Trade Agreement, Grant Thornton, in collaboration with India Global Forum and Confederation of Indian Industry, will launch the latest edition of the India Meets Britain Tracker at IGF London on 18th June. This highly anticipated report will deliver a powerful, data-led narrative of how Indian companies are reshaping the UK economy. The report will be officially launched during a special session at the Queen Elizabeth II Centre, as part of IGF London's flagship programme. With the UK and India ranking as the 6th and 4th largest economies respectively, this report offers an incisive look at one of the world's most strategic investment corridors. The launch is a cornerstone moment and further builds on IGF's ongoing efforts through the UK–India Future Forum to accelerate high-value collaborations and economic synergies between the two nations. By combining on-the-ground insights with granular data analysis, the report offers a roadmap for deeper engagement and evidence-based policymaking in the UK–India corridor. Manoj Ladwa, Founder and Chairman of India Global Forum, said: "Indian businesses are no longer just investing abroad - they are transforming global economies. Our collaboration with Grant Thornton provides a powerful lens into this evolution and reinforces IGF's mission to shape and support the UK–India economic partnership with data, dialogue and delivery." Anuj Chande, Partner and Head of South Asia Business Group at Grant Thornton, added: "Indian companies continue to play a pivotal role in the UK's growth story—from job creation to innovation. This year's tracker showcases their growing diversification, scale and resilience, and reflects the growing maturity and confidence of Indian enterprise on the global stage." The official report launch will bring together senior business leaders, policymakers, and government representatives from both countries, underscoring the strategic significance of Indian investment in shaping the UK's future economy. 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 Social Media Handles & Hashtag to FollowTwitter: @IGFUpdates & @manojladwaLinkedIn: India Global Forum#IGFLondon Logo: View original content: Sign in to access your portfolio
