Latest news with #Post-Brexit
The Hindu
3 days ago
- Business
- The Hindu
A Eurocentric reset, a gateway for India
In a diplomatic move, with far-reaching consequences, United Kingdom Prime Minister Keir Starmer's new agreement with the European Union (EU) signals a powerful 'reset' of their relations, resuming cooperation on food standards, fishing rights, defence and border checks. While this development may appear Eurocentric, it opens a gateway to possibilities and challenges for India that demand urgent attention. The U.K. and the EU are among India's most important trade and diplomatic partners, and their renewed alignment could redraw India's global strategy map. For Indian exporters, this could simplify compliance and revive supply chain fluidity. For policymakers, this presents an opportunity to strengthen strategic alliances. For the diaspora, this could reshape education and migration prospects. In short, the U.K.-EU reset is not just a regional recalibration. It is a moment that could redefine India's trade corridors, diplomatic engagements, and soft power leverage in the West. A reshaping of India's export dynamics The renewed collaboration in areas such as food safety, customs coordination and fisheries is poised to significantly influence Indian exports to both regions. In FY2024, India's exports to the EU stood at $86 billion, while exports to the U.K. totalled $12 billion, highlighting their strategic role in India's external trade. Post-Brexit, Indian exporters have grappled with navigating two separate regulatory regimes, especially in key sectors such as pharmaceuticals, textiles, seafood, and agro-based products. A harmonised U.K.-EU regulatory framework could simplify compliance, reduce redundancy and lower operational costs. India, a significant supplier of generic medicines to the U.K., fulfilling over 25% of its pharmaceutical needs, would benefit from a unified approval mechanism that accelerates clearances and enhances cost efficiency. Similarly, Indian seafood exports, valued at ₹60,523.89 crore (approximately $7.38 billion) in FY2024, could face fewer trade barriers if the food standards and fishing policies are aligned. However, tighter common standards might challenge Indian Small and Medium Enterprises, which often lack the capital and technical know-how. To remain competitive, India must strengthen its export ecosystem through initiatives such as the Remission of Duties and Taxes on Exported Products (RoDTEP) and the Production-Linked Incentive (PLI) scheme. A stronger voice in global diplomacy Beyond trade, the geopolitical dimensions are significant for India. A more synchronised U.K.-EU foreign policy, particularly in defence and the Indo-Pacific, offers India an avenue to enhance its multilateral coordination with the EU. India already operates under the EU-India Strategic Partnership: A Roadmap to 2025, and in 2022, it renewed its Comprehensive Strategic Partnership with the U.K., covering cyber security, climate action, and maritime security. As the U.K. realigns its policies with the EU, India could benefit from cohesive western support on global platforms, such as the United Nations, the G-20, and the World Trade Organization (WTO). Strategic ties with France, Germany and the U.K. are vital to India's defence modernisation and technological ambitions, especially regarding naval power. Notably, India-France bilateral trade reached $15.1 billion in 2024-25; landmark defence agreements with Germany and the U.K. have focused on technology transfer and joint development. A coordinated U.K.-EU defence policy could open doors for deeper trilateral or multilateral engagements in the Indo-Pacific, where shared concerns over China's assertiveness persist. Additionally, India's leadership in the Global South — spotlighted during its G-20 presidency in 2023 — can be amplified by leveraging the U.K.-EU thaw to drive collective action on climate finance, digital infrastructure and global governance reforms. A unified West could become a more dependable ally for India if it engages with India, strategically and assertively, in the future Enhancing trade and talent power On the mobility front, India has the world's largest diaspora, which includes large communities in the U.K. and across the EU. In 2024, the U.K. issued more than 1,10,000 student visas to Indian nationals, placing India among the top sources of international students. While post-Brexit restrictions limited access for Indian professionals to EU markets, renewed U.K.-EU border coordination could enable partial mobility, creating a semi-integrated talent corridor. This could also bolster India's migration pacts with Germany, France and Portugal by embedding them within a broader U.K.-EU framework. These converging shifts — trade liberalisation, mobility reintegration, and foreign policy alignment — present rare diplomatic and economic opportunities. To seize these opportunities, India must accelerate reforms, modernise its export infrastructure, and assert its role in global governance. Vipin Benny is Assistant Professor and Research Supervisor, St. Thomas College (Autonomous), Thrissur, Kerala, and the author of 'The Scenario of Economic Innovations in India: An Idea for Inventor' (2021) and 'Elevating Excellence: The Relevance of Internal Marketing in Higher Education Institutions in India' (2023)
Daily Mirror
3 days ago
- Daily Mirror
Brits warned 'check passports' blank pages or risk being turned away at airport'
Brits heading on holidays to the likes of France, Spain, Portugal and Greece need to check their passports including blank pages before heading to the airport Before heading on holidays abroad, most people will check their passports are still in date and damage-free, but travel insiders are warning UK travellers to also cast their eyes over blank pages in their documents. That's because one simple mistake could mean your holiday is over before it even starts, as you could be denied boarding at the airport, or turned away at border control. The travel insurance experts at have warned: "With Brits now getting stamped every time they travel through the EU, travel enthusiasts and those who travel for work may potentially run out of blank pages in their passports. All passport holders must have at least two blank passport pages when they travel, otherwise the document could be seen as invalid. Those travelling more frequently can opt for a jumbo passport that has 54 pages instead of a normal one with 34 pages." READ MORE: Livid Brits take 'sunbed wars to a whole new level' with sneaky 2am tactics It's not just how many blank pages you have left; you'll also want to check for any damage. The experts added: "If any of your passport pages are torn or missing, your passport is considered damaged and will likely not be accepted at the border, especially if it affects the personal details page or any visa stamps." Meanwhile, you'll also want to check two key dates on your document; the date of issue and the expiry date. That's because following Brexit, passport requirements have changed for Brits heading to the EU. Your passport now needs to have been issued less than 10 years ago, and must be valid at least three months beyond the date of departure. These easy errors could also be costly, as if you're turned away because you don't have a valid passport, then it's unlikely that your travel insurance would cover the costs, leaving you out of pocket. Ian Wilson, travel insurance expert and Managing Director, added: "With passport fees increasing and queues likely getting longer this summer due to the introduction of the EU's new Entry/Exit System, we urge holidaymakers to carry out essential passport checks now to avoid last-minute hassle and potentially being turned away at the airport. "Post-Brexit travel changes are still confusing for many of us, so it's important for Brits to familiarise themselves with the validity requirements before jetting off to Europe. "Travellers also need to ensure their passports are in good physical condition, as things like damage from water or ink, rips in pages and laminate peeling from the personal details page can mean that your passport may not be accepted as a valid travel document. "If you're denied access to your flight for issues such as an invalid passport, your travel insurance is unlikely to protect you. That's why it's so important to double-check these things well in advance of your departure date."
The National
27-05-2025
- Politics
- The National
It is not surprising that young men are choosing to carry weapons
It also betrays a rather signature MSP ignorance of day-to-day reality in impoverished, usually but not exclusively inner-city, communities in the context of threadbare social services and and several decades of alienation from more wealthy and more healthy citizens. The public service depletion that contributes per force to the endemic decision by so many good young people to 'bear arms' is the complete evisceration of community policing that followed the establishment of a unitary police force in this country. Do people in political and social bubbles realise that a parallel justice and 'policing' system has emerged in the de facto absence of an adequately state-funded presence in daily life in many areas? Do they understand that some young men protect themselves and their loved ones by the carrying of, for the most part, deterrent weaponry? READ MORE: Shona Craven: Young people have the right to feel disillusioned A rudimentary 'justice' system has arisen in many areas to deal with criminal and antisocial behaviour in courts of summary street justice, as the police and by extension the state is not protecting either life or property with a properly funded, engaged and embraced community police service. If Holyrood is to save, and at the same time improve, lives in all areas of Scottish life, from health to education and law and order ,it must commit, across political boundaries, to secede from a neoliberal Westminster colonial stranglehold and subscribe wholeheartedly to the commonweal principle that charity and justice begin at home. Angela Constance's colleagues must provide a credible vision of justice in all areas of Scottish life and do the job their Scottish electorate are paying them to do without excuses and/or equivocation: seek radical constitutional change as their pre-eminent priority, and in the meantime have more cops with moral authority. Knives are a symptom of wounded lives that need radical surgery not sticking plasters! Dr Andrew Docherty Selkirk IT is time the running sore of Brexit was given the chance to heal. The self-inflicted damage that Brexit has done economically has really only benefitted other countries. The reality of the close interactions between economies and the illusion that one country can stand alone has been exposed. Trump's misguided tariff war has shown clearly just how interdependent even the biggest economy in the world is. Brexit significantly weakened London as a financial centre. Before Brexit the London Stock Exchange was $1.5 TRILLION larger than Paris. Post-Brexit, the Paris region is emerging as the powerhouse of the EU with more than a hundred US-originated companies creating more than 4000 jobs. READ MORE: Experts debunk Nigel Farage claim that scrapping net zero would save £40bn a year The market speculator insiders benefited initially from the UK Brexit upheaval just as Trump's cronies did in the US tariff debacle. The scenario: create confusion, exploit the resulting stock exchange fall, walk away with a large profit and look for another opportunity. The fallout in damaged economies and poorer families is not their concern; their next big profit is. The illusion that Brexit benefitted ordinary people and not the rich speculators is dead. Even Farage has moved on, attempting to ride on Donald Trump's coattails. Is he too a would-be dictator? People within Reform already have their doubts. Andrew Milroy Trowbridge, Kent AS details of the UK-EU trade deal become clearer, the UK Government, even by its own admission, has highlighted that the economic gains resulting from it will be marginal. At a recent meeting of G7 finance ministers in Canada, Chancellor Rachel Reeves claimed the deal would add nearly £9 billion to the UK economy by 2040 and boost trade with the EU as Britain's single biggest trading partner. The UK Government estimates that material changes in areas covered, such as fisheries, food and energy, will increase GDP by 0.2% by 2040. Contrasting with this, the Office for Budget Responsibility estimates that Brexit will reduce the UK's long-term GDP by approximately 4% compared to remaining in the EU. The deal shows the UK clearly moving towards a relationship with the EU that is the worst of both worlds: formally sovereign, yet locked in ongoing negotiations and deeply enmeshed in EU frameworks across the entire economy. Moreover, these conditions also mean the UK can't strike a trade deal with the US involving food and agriculture unless there is no trans-shipment of goods, or unless the EU signs a trade deal with the US that solves this issue. Trade deals with the likes of India, the US and the EU simply limit the immense economic damage of Brexit to the UK economy, rather than bringing any benefits. Alex Orr Edinburgh
Mint
25-05-2025
- Business
- Mint
Global news wrap: Monetary policies, US-China truce, CATL's debut
Every month, Mint's Plain Facts section brings out an update on key global data to thread together the biggest developments in the world that are worth paying attention to. The accompanying analysis and charts explain how each story is creating ripples on the global stage, where it is headed in the coming weeks, and whether it can impact India. Policy outlook In the coming month, several major central banks are poised to announce monetary policy decisions, with many facing a delicate balancing act—managing persistent inflationary pressures while navigating the uncertainties of US tariff policies. The US Federal Reserve, Bank of England, and Bank of Japan are widely expected to keep interest rates steady. Meanwhile, the Reserve Bank of India (RBI) and European Central Bank (ECB) may consider rate cuts to stimulate growth amid stable inflation. Read this | RBI's double-barreled liquidity surge in May to force down lending rates The US Federal Reserve is expected to hold rates steady as it weighs the potential economic fallout from the tariffs against the inflationary risks. The Bank of England, having eased rates in May to address growth concerns and softening inflation, may hold steady now but could resume easing by August. The Bank of Japan is likely to pause in June to assess tariff-related uncertainties but may begin rate hikes later as inflation pressures build. Trade truce After exchanging steep reciprocal tariffs, the US and China agreed to a 90-day pause in their tariff war, including reduced tariffs during this period. The truce, reached following high-level talks in Switzerland, marks a significant de-escalation after US tariffs on Chinese imports peaked at 145% and China's tariffs on US goods reached 125%. Currently, US tariffs on Chinese products average around 30%, while China's tariffs on US goods stand near 10%. Prior to the agreement, China experienced a sharp drop in exports to the US in April, alongside a notable rise in shipments to ASEAN countries, suggesting efforts to sidestep US tariffs. Read this | India caught in crossfire as Trump demands Apple shift manufacturing to US While the terms of any final deal remain uncertain, this temporary truce has eased global tensions, with brokerages lowering the likelihood of a US recession. Post-Brexit pact Five years after formally leaving the European Union, the UK and the EU have unveiled their first major post-Brexit deal, signalling a strategic reset in their complex relationship. Unveiled at a London summit led by Prime Minister Keir Starmer, the agreement covers trade, defence, energy, migration, and youth mobility, aiming to improve cooperation and ease tensions. The trade relationship between the UK and the EU has undergone significant shifts since Brexit. While the EU remains a key trading partner, accounting for around 41% of UK exports and 51% of imports in 2024, the UK has diversified its trade portfolio, with non-EU countries now receiving 59% of its exports. Nonetheless, UK exports to both the EU and non-EU markets have declined sharply since Brexit, underscoring the urgency of securing trade agreements with the EU and other partners like India. Read this | With India-UK FTA talks concluded, India to introduce global tendering for public procurement However, since Brexit, the UK's exports to both the EU and non-EU have declined sharply, pressing the need to strike trade deals with the EU and other countries like India. Bond rout The global bond market is facing a sharp sell-off, driven by a wave of fiscal concerns and a loss of confidence in long-term government debt. Moody's downgrade of the US credit outlook and renewed fears over soaring deficits—fuelled by Donald Trump's tax plans—have triggered a broad-based reassessment of risk. Investors are not only exiting the US Treasuries but also long-duration bonds in major economies like Japan and Germany. Yields on 30-year US bonds surged past 5% recently, while Japanese and German yields have also jumped. Structural shifts, such as reduced demand from Japanese insurers and looser fiscal policy in Europe, are compounding the pressure. Also read | Why the bond market is unfazed by a 22-year-low yield gap Investors now favour shorter-duration bonds, viewing them as safer in uncertain times. Meanwhile, emerging markets like India and China are defying the trend, with yields slipping, thanks to domestic stability and tighter capital controls. Listing lift Chinese battery giant CATL made a striking debut on the Hong Kong Stock Exchange, raising $4.6 billion in the largest global listing so far this year. Shares jumped over 16% from its listing price of HK$263 on the first day, highlighting strong investor demand for the world's top EV battery maker, which supplies major automakers such as Tesla, BMW, and Volkswagen. Holding a near 38% share of the global EV battery market, CATL plans to use the proceeds to accelerate its expansion in Europe. However, already listed in Shenzhen, CATL became entangled in escalating US-China tensions. The Pentagon designated CATL as a Chinese military-linked firm, and US lawmakers pressured Wall Street banks to avoid the listing, leading CATL to exclude US onshore investors entirely. Also read | Ola's battery cell ambition has run into a bump This move marks a shift from an era when Chinese giants like Alibaba thrived on Wall Street on debut. CATL's Hong Kong listing reflects a changing financial landscape, with mainland firms increasingly turning to Hong Kong for capital amid rising US regulatory scrutiny.
Time of India
21-05-2025
- Business
- Time of India
Japan fast-tracks global education push; eyes 4,00,000 international students by 2033
Japan is moving steadily toward its long-term goal of hosting 400,000 international students by 2033. As of May 2024, the country had already exceeded its first milestone-reaching and surpassing its pre-pandemic benchmark of 312,000 students three years ahead of schedule, as per a report by ICEF Monitor. According to data from the Japan Student Services Organization (JASSO), there are now 336,708 international students in the country. This marks a 21% increase from the previous year and positions Japan well on the path to meeting its 2033 target. Most of the students (96%) are self-funded, while the remaining few receive scholarships from the Japanese government or foreign governments. Higher education institutions account for 68% of enrolments, and Japanese language schools make up the remaining 32%. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Among those enrolled in higher education (229,467 students), 40% are in undergraduate or junior college programmes, 25% are pursuing graduate studies, 33% are in professional training colleges, and 2% are in university preparatory courses. (Join our ETNRI WhatsApp channel for all the latest updates) The majority of international students in Japan come from other Asian countries. In 2024, 92.5% of students came from within the region, with China, Nepal, Vietnam, Myanmar, and South Korea making up nearly 80% of total enrolments. Nepal saw particularly strong growth, with a 70% increase in student numbers year-on-year. Live Events RECOMMENDED STORIES FOR YOU International students face challenges rebuilding their lives after US reversal in visa crackdown Studying in UK just got more expensive for international students The Post-Brexit edge: Why Ireland is fast becoming a preferred study destination for international students Japan's major urban regions remain the key destinations. The Kanto and Kinki prefectures, which include Tokyo and Osaka, hosted more than 75% of the international student population. Academically, 70% of international students were studying humanities or social sciences, while 14% were enrolled in science or engineering programmes. Japan's education policy continues to prioritise global engagement, and the current enrolment numbers reflect growing interest and access for students from across Asia.
