UK's global trade outlook sees India as Asia's 'standout growth engine'
India is set to become the world's third-largest economy by 2028. A new trade deal between the UK and India gives British businesses an edge. The UK-India FTA aims to boost trade and economic growth. UK products will see tariff reductions, saving businesses millions. The deal is expected to increase bilateral trade significantly.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
As the "standout growth engine" in Asia, India is projected to be the third largest economy in the world by 2028, and the recent Free Trade Agreement (FTA) offer British businesses a "major advantage" over their international competitors, the UK's new trade strategy and outlook have said.The 'UK's Trade Strategy' and an accompanying 'Global Trade Outlook 2025' released by the Department for Business and Trade (DBT) on Wednesday spotlights the trade deal with India, concluded early last month, as the centrepiece of the Labour government's approach to utilising FTAs as an important tool to meet its economic growth agenda."Asia is expected to benefit from standout growth from India and a new generation of fast-growing emerging markets," reads the outlook."Asia's centre of growth is expected to shift from China to India and other emerging markets, while Africa's demographic boom could drive high growth if job creation can keep pace with population growth," it notes.About the FTA, the trade strategy points out that the "comprehensive agreement" with India is reflective of the "transformative" impact that Free Trade Agreements can make.It reads: "For example, the UK-India FTA is a landmark trade deal that will drive growth and boost trade with one of the fastest-growing economies in the world. As soon as the deal comes into force, UK products will benefit from a saving of up to an estimated GBP 400 million a year, from India cutting its tariffs on existing trade alone, which could increase to around GBP 900 million a year after staging over 10 years."And that's before factoring in the savings from speedier and easier trade from improved customs and digital commitments. This immediate relief represents a major advantage our businesses will enjoy over their international competitors."The trade strategy, which complements an Industrial Strategy released earlier this week, is aimed at setting a clear direction for the government's growth and job creation goals."What works for business, works for Britain. It means more jobs, more opportunities, and more money in people's pockets. That's why I've backed British industry through global headwinds - securing major trade deals with the US, India and the EU that protect jobs and drive growth right across the country," said British Prime Minister Keir Starmer."Broad and complex trade deals like we secured with India will bring billions to our economy every year but to deliver the Plan for Change we will strike more agile, targeted deals that exploit the sectors which drive the most growth for our economy," added Business and Trade Secretary Jonathan Reynolds.The strategy reiterates the "huge economic win" from the India FTA, which "slashes Indian tariffs on key products such as whisky, cosmetics and medical devices, locking in reductions on 90 per cent of tariff lines for UK exports to unleash opportunities for businesses across our regions and nations"."Furthermore, it delivers certainty for service suppliers, including non-discrimination commitments to support new opportunities. It delivers on our Plan for Change and is expected to increase bilateral trade by GBP 25.5 billion, increase UK GDP by GBP 4.8 billion, and boost wages by GBP 2.2 billion every year in the long run," the strategy adds.The India-UK deal is expected to be officially signed off at the end of next month following the obligatory parliamentary clearance in Britain."We in India have a much faster process, comparatively, so we'll be ready as soon as the legal scrubbing is done and the document is sorted out," Commerce and Industry Minister Piyush Goyal had said during his UK visit last week to discuss the next steps in the FTA.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
an hour ago
- New Indian Express
At House panel meeting, MPs flag Bangladesh's growing ties with Pak and China
NEW DELHI: A meeting of the Parliamentary standing committee on External Affairs on Friday saw discussion on Bangladesh's growing proximity with Pakistan and China, and implications of India's strained ties with its eastern neighbour amid suggestions by some experts on engagement with the country, according to sources. Former foreign secretary and ex-National Security Advisor Shivshankar Menon, Lt Gen Syed Ata Hasnain, former High Commissioner of India to Bangladesh Riva Ganguly Das and academician Amitabh Mattoo attended the meeting. The committee recorded evidence of the experts/non-official witnesses in connection with the examination of the subject 'Future of India-Bangladesh Relationship'. The panel is headed by Congress MP Shashi Tharoor. Some MPs expressed concern that China is getting a foothold in the country, which is strategically important for India, said sources. MPs also pointed out that Pakistan is trying to strengthen its ties with Bangladesh. One of the MPs suggested that if the South Asian Association for Regional Cooperation (SAARC) can be revived to counter the Chinese bid to grow its influence in the MP also suggested that the exchange of journalists will boost people-to-people engagement with Bangladesh, said sources. An MP said some members raised concerns about the deteriorating relationship with Bangladesh under the interim government of Muhammad Yunus. The implications of India-Bangladesh ties on West Bengal, which shares a long border with the country, were also raised by MPs from the state, said a source. The state has been bearing the brunt of the suspected large-scale infiltration, said the MP. Speaking to the media after the meeting, Tharoor said infiltration from Bangladesh has been reduced now.
India.com
an hour ago
- India.com
BJP's ‘Nari Shakti' Rhetoric Faces Leadership Test Within Party
New Delhi: In Indian politics, slogans often do the heavy lifting. 'Nari Shakti', the BJP's rallying cry for women's empowerment, has been a consistent part of its electoral pitch, development agenda, and cultural messaging. From schemes like Ujjwala Yojana to the push for the Women's Reservation Bill, the party has repeatedly projected itself as a champion of women's rights. However, despite years of promoting 'Nari Shakti' as a key electoral plank and cultural identity, the Bharatiya Janata Party today finds itself in an uncomfortable position, lacking a strong, popular pan-India woman face in its top leadership or newly formed cabinet. While the Modi cabinet has seven women ministers, none of them enjoys pan-India popularity like Sushma Swaraj or other former women leaders of the party. This apparent disconnect between rhetoric and representation hasn't gone unnoticed. This gap has raised eyebrows among political observers, and as the 3.0 Modi-led government takes shape, a critical question arises: Where are the women? A cabinet without prominent women "Nari Shakti" is a powerful slogan, but slogans don't substitute for representation. The absence of prominent female leadership highlights how women are still perceived more as support systems than leaders within the party. This is not a new pattern. The BJP fielded around 16% women candidates in the 2024 Lok Sabha elections, a modest improvement, but still far short of the 33% goal it has publicly endorsed. Despite a strong base of women MPs (31 out of the BJP's 240 in the 18th Lok Sabha) and growing female participation in election campaigns and grassroots politics, few women are elevated to positions of national political visibility or decision-making authority. As per several analysts, parties field women candidates in either safe or hopeless constituencies, rarely in the crucial battleground seats. Women are mobilized during elections, but not groomed for leadership. Experts feel the BJP's Nari Shakti Vandan Adhiniyam Act was a mere eyewash, promising 33% reservation for women in Lok Sabha and state assemblies, but delivering a paltry 31 women MPs in 2024, a stark decline from 42 in 2019. Experts say this is a part of a broader pattern where women are mobilized as voters and campaigners, especially in welfare schemes and outreach initiatives, but are not empowered as political decision-makers. This paradox, between women's increasing political visibility and their absence from actual leadership, has drawn criticism. Political Analyst Sandeep Choudhary said, "Making Droupadi Murmu the President of India, a tribal woman from a humble background, certainly sent a message to the world. But let's not mistake representation for empowerment. Women do not become empowered merely by holding symbolic positions. Real empowerment demands structural change; women must be given real power in legislative assemblies, in ministries, in administrative authority, and in decision-making bodies where their voice is not just present, but heard and acted upon." "Women's participation in politics should not be conditional upon the will or generosity of men. As long as male leaders continue to decide which woman should get a ticket, whose voice should rise, and who should be sidelined, empowerment will remain a distant dream. Women must be allowed to rise through their merit, their strength, and their vision, not based on what role the male leadership assigns them. Until then, this will not be true empowerment, but controlled representation," he further added. "Look at Smriti Irani, she is articulate, bold, and deeply connected to the ground realities. Yet after her defeat, she vanished from political prominence. In contrast, men like Pushkar Singh Dhami and Keshav Prasad Maurya were made Chief Minister and Deputy Chief Minister despite losing. This inconsistency shows that women are still viewed as exceptions, not equals," Choudhary further highlighted, adding, "Today, the BJP governs many states across India, yet how many women do we see as Chief Ministers? Just one, and that too, a recent appointment of Rekha Gupta in Delhi, after the fall of the AAP government. If women truly matter in politics, why are they missing from the top posts across the country? You cannot talk about Nari Shakti while structurally excluding women from leadership roles." Experts feel that when capable women are ignored, it sends a message to the next generation of women that their rise will always depend on factors beyond competence. "Slogans like 'Beti Bachao, Beti Padhao' and 'Nari Shaktikaran' are powerful, but they must translate into policies, opportunities, and representation. Until a woman can rise from the Panchayat to Parliament without systemic bias, until her ticket isn't decided by the male high command, and until her defeat isn't treated as final while men are resurrected, true women's empowerment will remain a distant ideal," he concluded. Ground-level mobilization, but no elevation To be fair, the BJP has effectively mobilized women at the grassroots, using self-help groups, local welfare schemes, and women-specific subsidies to cultivate strong female voter bases. In states like Uttar Pradesh and Madhya Pradesh, women played a decisive role in the BJP victories. Initiatives like the Ladli Behna Yojana and targeted welfare programs have built immense goodwill among women voters, especially in rural India. BJP has mastered the art of symbolism when it comes to women, but that mobilization has not translated to genuine political inclusion. Women are present on the ground, not in the room where decisions are made. This dissonance, women as voters versus women as leaders, is now becoming too stark to ignore. Reports also say that women's representation is far lower than in many other democracies. The few women who do make it are typically from politically privileged families. Senior Journalist Rahul Lal slammed the BJP, saying, "The BJP's actions suggest that women's empowerment is not a priority for the party, and that the Nari Shakti slogan is merely a publicity gimmick." Making his views stronger, Rahul Lal added, "Women have been marginalized in every matter in terms of representation, and it's not an exaggeration to say that the BJP's Nari Shakti slogan has been a mere facade. The BJP could have given more tickets to women, but they didn't, and as a result, women's representation in the party has taken a hit. The Saffron party's promises of women's empowerment have turned out to be empty promises, with no substance or action to back them up." Regional contrast and missed opportunities Regional parties have offered a different model. In contrast, parties like the TMC, BSP, and even Congress have put women front and center. Mamata Banerjee, Mayawati, and Priyanka Gandhi Vadra are household names. Meanwhile, the BJP, a party with a national presence and deep organizational machinery, lacks any woman who occupies a similar national leadership space today. What must change Experts feel that for the BJP to credibly claim the mantle of 'Nari Shakti,' it must: Elevate women into the party's highest decision-making bodies, including cabinet committees and national executive posts. Field women candidates in winnable constituencies and train them for long-term leadership roles. Move beyond symbolism, giving women policy authority, not just campaign responsibilities, and promote internal mentorship and leadership pipelines, especially from grassroots to national politics. Time for structural empowerment The BJP's messaging around "Nari Shakti" has undeniably reshaped how women voters see politics, as something accessible and participatory. But turning that participation into real representation requires more than slogans. Until women are given real power, not just portfolios but policy-shaping authority, the gap between narrative and reality will continue to grow. In an era where optics matter, substance matters more. The question is no longer whether the BJP can mobilize women. It's whether it is ready to be led by them.
Time of India
4 hours ago
- Time of India
PM Modi's 5-nation tour begins July 2, to attend Brazil Brics meet
NEW DELHI: PM Narendra Modi will undertake a five-nation trip starting July 2, visiting Ghana, Trinidad and Tobago and Argentina on his way to Brazil for the Brics summit. He will also visit Namibia on his way back. This will be Modi's first ever visit to Ghana, Trinidad and Tobago and Namibia. Announcing Modi's visit to Brazil for Brics, government said that during the summit, the PM will exchange views on key global issues including reform of global governance, peace and security, strengthening multilateralism, responsible use of artificial intelligence, climate action, global health, economic and financial matters. Modi is also likely to hold several bilateral meetings on the sidelines of the summit. For a state visit to Brazil later, the PM will travel to Brasilia where he will hold bilateral discussions with President Luiz Inacio Lula da Silva on the broadening of the strategic partnership between the two countries in areas of mutual interest, including trade, defence, energy, space, technology, agriculture, health and people to people linkages, said the govt. According to the govt, Modi's visit to Argentina is expected to further enhance India-Argentina partnership in key areas including defence, agriculture, mining, oil and gas, renewable energy trade and investment.
