'Historic' FTA with Britain shows world's trust in India: PM Modi
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Prime Minister Narendra Modi on Saturday described the recently concluded FTA between India and UK as 'historic,' and said the trade pact showed the world's trust in the country.As regards Operation Sindoor , he said weapons manufactured under the 'Make in India' initiative played a great role during the cross-border military offensive in destroying enemy targets and made enemies lose sleep.The PM inaugurated, laid foundation stones and dedicated projects worth Rs 4,900 crore here and underscored the NDA government's commitment towards Tamil Nadu's growth.In his address after inaugurating the projects, Modi said he was blessed to directly land in Tamil Nadu after completing his foreign tour during which the India-UK Free Trade Agreement was signed before his visit to the Maldives.The trade pact with Britain was 'historic.'"India and Britain signed a FTA. This shows the growing trust of the world and our self-confidence. We will make Viksit (developed) Bharat and Viksit Tamil Nadu with this self-confidence," Modi said."FTA with Britain adds pace to our vision of Viksit Bharat , Viksit TN," the PM, clad in a traditional veshti (dhoti), shirt and an 'angavastram' worn around the neck, said. He landed here directly after wrapping up his official tour of the Maldives."After the FTA, there will be no tax on 99 per cent of Indian products being sold in Britain. If Indian products are cheap, the demand will grow there and this will lead to more production opportunities in India. Due to this FTA, TN youth, small businesses, MSMES, startups will get big benefits," he added.Promising a developed India and Tamil Nadu, he said, "infrastructure and energy are the backbone of any state's development; our focus on infrastructure and energy in last 11 years shows our commitment to TN's growth."The NDA government has constructed Atal Sethu, Sonmarg Tunnel, Bogibeel bridge in different parts of the country and these created thousands of job opportunities.As regards the railways, he said it is the lifeline of industrial growth.The projects he inaugurated on Saturday are related to airport, highways, railways, port and power in Tamil Nadu and he said that infrastructure.The inaugurated projects include a new state-of-the-art Tuticorin airport terminal building, developed at an estimated cost of around Rs 450 crore.As regards railway projects, it includes the electrification of the 90 km Madurai-Bodinayakkanur line, commissioned at a cost of Rs 99 Crore and the Rs 650 crore worth doubling of the 21 km Nagercoil Town-Kanniyakumari section.The PM dedicated to the nation, two strategically significant highway projects-- 4-laning of 50 km Sethiyathope-Cholapuram stretch of NH-36, developed at a cost Rs 2,350 crore and 6-laning of the 5.16 km NH-138 Tuticorin Port Road, built at around Rs 200 crore.He inaugurated the North Cargo Berth-III with a cargo handling capacity of 6.96 MMTPA at V O Chidambaranar Port established at a cost of Rs 285 crore.On the occasion, he invoked legendary freedom fighters from the region--VO Chidambaram Pillai, king Veerapandia Kattabomman and chieftain Veeran Azhagu Muthukon.Tamil Nadu Governor RN Ravi participated in the event. State Finance Minister Thangam Thenarasu presented a memento, a replica of the iconic Valluvar Kottam in Chennai, to the prime minister on the occasion.Union Civil Aviation Minister K Rammohan Naidu, Union Minister of State L Murugan, TN Social Welfare Minister P Geetha Jeevan, Lok Sabha MP Kanimozhi and top officials took part.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
30 minutes ago
- Deccan Herald
KEC International bags new orders worth Rs 1,509 cr
New Delhi, KEC International on Wednesday said it has recently secured new orders worth Rs 1,509 Transmission & Distribution business has secured projects that include 400 kV quad transmission lines in India, 500/ 400/ 220 kV overhead transmission lines in the overseas market, and the supply of towers, hardware, and poles in the Americas and the Middle East, a statement transportation business has bagged a joint venture order in the Train Collision Avoidance System (TCAS) segment under Kavach in Cables & Conductors business has secured orders to supply various types of cables and conductors in India and the overseas Kejriwal, MD & CEO, KEC International said, "Our Transportation business has further strengthened its order book in the prestigious TCAS segment ('Kavach') by securing another order aimed at enhancing the safety of Indian Railways through world class technology. With these orders, our YTD order intake now stands at over Rs 7,000 crore. " KEC International Ltd, a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs 1,509 crore across various businesses, it International is a global infrastructure Engineering, Procurement and Construction (EPC) has a presence in the verticals of Power Transmission & Distribution, Civil, Transportation, Renewables, Oil & Gas Pipelines and Cables & has a footprint in 110+ countries (includes EPC, Supply of Towers and Cables). It is the flagship Company of the RPG Group.
Scroll.in
30 minutes ago
- Scroll.in
RPSC ASO application window opens for 43 posts; here's how to register
The Rajasthan Public Service Commission (RPSC) has commenced the registrations for the recruitment of Assistant Statistical Officer (Eco. and Stat. Dept.) 2024 posts under Advt. No. 09/2024-25. Eligible candidates can apply for the posts on the official website or till August 13, 2025. The recruitment drive aims to fill up a total of 43 ASO posts. Applicants can check the eligibility criteria, age limit, pay scale, and other details available in the notification below: Candidates have to pay a fee of Rs 750 for One Time Registration (OTR). More details in the notification. Steps to register for ASO posts 2024
Hans India
30 minutes ago
- Hans India
Tata Motors shares slide over 4 pc amid reports of $4.5 billion Iveco acquisition talks
Following reports that Tata Motors is in advanced negotiations to purchase the truck division of Italy's Iveco Group in a possible $4.5 billion deal, the company's shares experienced significant pressure on Wednesday. They fell by almost 4 per cent in early trading. Tata Motors' stock was down 3.08 per cent from the previous close at Rs 671.85, as of 11:23 A.M. The drop is a result of investor apprehension about the scope and consequences of what might turn out to be the second-largest foreign acquisition for the Tata Group after its $12.9 billion acquisition of Corus Steel in 2007. The talks with Iveco, which is owned by the Agnelli family, are reportedly centred on purchasing its Defence and commercial truck businesses. Iveco has admitted to looking into the possibility of selling its industrial vehicle division, but no firm decision has been made as of yet. However, it has been reported that the deal may receive Board-level approvals as early as today. If completed, the deal would be Tata Motors' largest acquisition since its 2008 $2.3 billion acquisition of Jaguar Land Rover and could greatly increase the company's presence in the global commercial vehicle market. The timing is notable, as Tata Motors is spinning off its commercial vehicle business into a separate entity, a process expected to conclude by December 2025. In India, that division has a 30 per cent market share for light commercial vehicles (LCVs) and a 49 per cent market share for heavy commercial vehicles (HCVs). It generated Rs 75,000 crore in revenue in the previous fiscal year. The foundation of Iveco's industrial operations is its truck business, which generates 70 per cent of total industrial revenue. The company's bus and powertrain divisions each contribute 15 per cent. Iveco maintained an 8–9 per cent presence in the medium and heavy truck segment and a 13.3 per cent share in the European LCV market in 2024.
