India's Goyal Sees UK Trade Deal as Win-Win
Well, I think Indian business is very excited that we've got the free trade agreement in place. We've got the double contribution convention in place. Indian businesses have been very bullish on the UK. And if one looks at the investments flowing in from India to UK, it's a tad more than the other way round. So I think this will also encourage greater investments because of the stable and predictable environment, business environment. It will also open the doors for more robust and resilient supply chains. It will ensure that we can both work as trusted partners, expanding trade in goods and services. I think Prime Minister Narendra modi and Prime Minister Starmer both very clearly recognise and articulated today that this is a milestone and historic achievement which will hold good stead as we double our trade, as we grow our jobs in both countries. It's a win win for both. You can India or any big Indian conglomerate's already planning that expansion? I think we saw, for example, the party group become the single largest investor in British Telecom. Clearly a sign that there is trust between businesses on both sides. In fact, they're also a major part of the one rep. You're aware that many pharma companies, many I.T. companies already have a significant presence in the UK, companies working on pesticides and chemicals. And very many sectors are looking at the UK as a possible centre, both for goods and services. The other talks were, of course ongoing on the bilateral investment treaty. Can I ask what are the sticking points remaining on that? I think negotiations happened in the negotiating room. We don't discuss that in the media, but I do hope we will get that also across the hump soon. And are there any concern, especially for Indian generics makers or in terms of dumping from India that are still there or have those all been resolved? Well, in fact, we were being wrongly classified as a country which had any problems with our patent and our IP regime. We were able to have very, very good discussions with the pharma companies, with all the stakeholders, both in India and in other parts of the world. Concerns that came to our attention, which merited any change have been addressed and it has given a big boost to patent filing faster clearances. In fact, in the last two years we've done nearly 160,000 Britons being issued, so much so that we don't have much of a backlog left anymore. And I think we've been able to create a trusted atmosphere with fast track clearances. And we now have a robust intellectual property rights chapter, both with Switzerland and the UK, two countries which always used to be at the forefront of innovation.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Sir Keir Starmer set for Donald Trump trade talks as PM walks diplomatic line between EU allies and US on Gaza
Gaza and transatlantic trade are set to dominate talks between Donald Trump and Sir Keir Starmer when the pair meet in Scotland on Monday. Downing Street said the prime minister would discuss "what more can be done to secure the ceasefire [in the Middle East] urgently", during the meeting at the president's Turnberry golf course in Ayrshire. Talks in Qatar over a ceasefire ended on Thursday after the US and Israel withdrew their negotiating teams. Mr Trump blamed Hamas for the collapse of negotiations as he left the US for Scotland, saying the militant group "didn't want to make a deal… they want to die". Sir Keir has tried to forge close personal ties with the president, frequently praising his actions on the world stage despite clear foreign policy differences between the US and UK. The approach seemed to pay off in May when Mr Trump announced the agreement of a trade deal with the UK that would see several tariffs lowered. The two leaders are expected to discuss this agreement when they meet, with the prime minister likely to press the president for a lowering of outstanding tariffs on imports such as steel. Prior to the visit, the White House said the talks would allow them to "refine the historic US-UK trade deal". Extracting promises from the president on the Middle East may be harder though. Despite some reports that Mr Trump is growing frustrated with Israel, there is a clear difference in tone between the US and its Western allies. As he did over the Ukraine war, Sir Keir will have to walk a diplomatic line between the UK's European allies and the White House. On Thursday, French President Emmanuel Macron announced his country would formally recognise a Palestinian state in September, the first member of the G7 to do so. That move was dismissed by Mr Trump, who said it "doesn't carry any weight". Read more from Sky News:US and EU agree trade deal - with bloc facing 15% tariffsGeldof accuses Israel of 'lying' about Gaza starvation The UK, French and German leaders spoke over the weekend and agreed to work together on the "next phase" in Gaza that would see transitional governance and security arrangements put in place, alongside the large-scale delivery of aid. Under pressure from members of his own party and cabinet to follow France and signal formal recognition of Palestine, Sir Keir has gradually become more critical of Israel in recent months. On Friday, the prime minister said "the starvation and denial of humanitarian aid to the Palestinian people, the increasing violence from extremist settler groups, and Israel's disproportionate military escalation in Gaza are all indefensible". Government sources say UK recognition is a matter of "when, not if", however, it's thought Downing Street wants to ensure any announcement is made at a time when it can have the greatest diplomatic impact. Cabinet ministers will be convened in the coming days, during the summer recess, to discuss the situation in Gaza. The UK has also been working with Jordan to air drop supplies, after Israel said it would allow foreign countries to provide aid to the territory. President Trump's trip to Scotland comes ahead of his second state visit to the UK in September. Downing Street says Ukraine will also likely be discussed in the meeting with both men reflecting on what can be done to force Russia back to the negotiating table. After the meeting at Turnberry, the prime minister will travel with the president to Aberdeen for a private engagement. Mr Trump is also expected to meet Scottish First Minister John Swinney while in the country.
Bloomberg
2 hours ago
- Bloomberg
Starmer to Meet Trump to Discuss Trade Deal and Gaza Ceasefire
UK Prime Minister Keir Starmer will meet US President Donald Trump in Scotland on Monday in a bid to remove the remaining obstacles to their trade deal and press for a lasting ceasefire in Gaza. Starmer will travel to Trump Turnberry, the president's golf course where he played at the weekend and thrashed out a trade deal with the European Union on Sunday. The two leaders will then travel on together for a further private engagement in Aberdeen.
New York Post
7 hours ago
- New York Post
Why top NYC restaurants are bringing in famed chefs from around the world
Top New York City restaurants are increasingly turning to collaborations with renowned chefs from around the globe to boost business and stand out from high-end rivals, Side Dish has learned. The collabs, while not a new phenomenon, have taken on added importance as President Trump's tariffs create challenges for chefs to source some of their favorite ingredients. However, importing talent from all corners of the globe – which at popular Tribeca haunt l'abeille means bringing in chefs from England, France, Belgium, Japan, Hong Kong and Thailand – remains tax-free. 7 l'abeille in Tribeca is importing talent from all corners of the globe. Eric Vitale Photography 'Global residences help everyone grow and learn — from the guests to the staff. They keep the restaurant interesting,' said Howard Chang, co-owner of Kuma Hospitality Group's l'abeille with partners Rahul Saito and executive chef Mitsunobu Nagae. The dinners these top chefs serve up at ticketed events aren't cheap. At a recent, prix-fixe collab dinner at l'abeille, Nagae worked with London-based chef Chet Sharma, who studied physics at Oxford and now helms the standout Indian-themed restaurant BiBi in London's swanky Mayfair neighborhood. The meal cost $325, with an additional $295 for wine pairings. The exclusive events, however, often don't bring in more money than regular a la carte dinners, restaurateurs told Side Dish. That's because the higher prices are offset by the cost of flying in the foreign-based chefs, along with some of their team members, and putting them all up in hotels. 7 Chet Sharma, left, and Mitsunobu Nagae collaborated on a prix-fixe dinner. Eric Vitale Photography 7 The collabs, while not a new phenomenon, have taken on added importance as President Trump's tariffs create challenges for chefs to source some of their favorite ingredients. Eric Vitale Photography The upside, they say, is that global collabs raise the restaurants' profiles, bring in new diners and offer educational benefits for staff. On the Upper East Side, Sushi Noz's executive chef Nozomu Abe is bringing in Michelin-starred Chef Endo Kazutoshi, a third-generation sushi master who trained in Japan before opening his namesake restaurant, Endo, at the Rotunda in London. 7 At Sushi Noz on the Upper East Side, executive chef Nozomu Abe, left, is bringing in Michelin-starred Chef Endo Kazutoshi. Hannah Wyatt Last week, the pair offered a rare collaborative omakase where they presented their culinary visions through the use of local fish and other influences. 'We started the Japan series in 2019,' said Hannah Wyatt, Sushi Noz's operations manager. 'Our goal was to showcase top chefs from Japan through collaborative dinners with chef Noz, with a focus on sushi and kaiseki chefs at the top of their respective fields.' In Williamsburg, Brooklyn, the owners of Layla's began bringing in chefs during COVID and continue to have pop-ups for 'brand exposure.' 7 The dinners these top chefs serve up at ticketed events aren't cheap. Eric Vitale Photography 7 The exclusive events, however, often don't bring in more money than regular a la carte dinners, restaurateurs told Side Dish. Eric Vitale Photography The most recent international collab involved chef Kyle Garry and chef Whyte Rushen of Whyte's in London, who is now on a 'worldwide' tour. 'We did it once, and it was really successful and fun and now it's something we try to do as often as we can,' Samuel Lynch, one of Layla's co-owners along with Stefano D'Orsogna and David Lacey, told Side Dish. The trend has even extended to the Hamptons, where Mavericks Montauk will welcome the crew from Michelin-starred Parisian restaurant Contraste on July 31. 7 The upside, they say, is that global collabs raise the restaurants' profiles, bring in new diners and offer educational benefits for staff. Interior of l'abeille, above. Eric Vitale Photography The collaboration was made possible by the deep-rooted friendship between Mavericks' pastry chef Remy Ertaud and Contraste's Louis De Vicari. We hear … that celeb chef Scott Conant is opening a posh new Italian restaurant, Leola, in the Bahamas at Baha Mar this fall. Leola will be on the casino level of Grand Hyatt Baha Mar, joining hotspots including Jon Batiste's Jazz Club, Marcus Samuelsson's Marcus at Baha Mar Fish + Chop House, Daniel Boulud's Cafe Boulud, and Dario Cecchini's Carna. The 8,800 square foot space comes with 106 seats in the main dining room and 130 seats outside. 'Bringing Leola to life at Baha Mar is something I've dreamed about for a long time,' Conant said. 'I've always been inspired by the beauty and spirit of the Bahamas, and it felt like the perfect place to create a restaurant that's both personal and inviting. With Leola, we're blending the kind of food and hospitality I love—warm, soulful, and rooted in connection.' Conant will also participate in the Fourth Annual Bahamas Culinary & Arts Festival, which runs from Oct. 22-26.
