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Time of India
4 days ago
- Business
- Time of India
Visa boost for desi professionals, chefs in trade agreement
NEW DELHI: Independent professionals as well as business visitors, company executives and investors can expect a more predictable visa regime to the United Kingdom once the trade deal signed Thursday is implemented. The Comprehensive Economic and Trade Agreement seeks to "lock in" business mobility rules for Indian business visitors attending meetings and conferences, experienced employees, graduate trainees, investors, as well as musicians, chefs and yoga teachers. The British govt will, however, closely monitor eligibility norms to avoid a large influx. For instance, senior executives of service sector companies with branches in India and UK will get visas for three years. Contractual service providers across more sectors will be eligible for business visas of up to 12 months. Govt sources said the UK has agreed not to impose numerical limits on Indian business mobility and won't require Indian companies to advertise locally before applying for these visas. Last year, the UK granted 25,117 visas under the Global Business Mobility route. The deal provides for 1,800 annual visas to Indian musicians, chefs and yoga teachers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like TV providers are furious: this gadget gives you access to all channels Techno Mag Learn More Undo Indian nurses, accountants and other professionals can look forward to academic qualifications being recognised in the UK, as the deal pushes for mutual recognition agreements. India has kept legal services out of bounds but agreed to let British accounting and audit firms set up shop here, provided the UK offers reciprocal access. Like in the Australian ECTA, architectural services are now open to British firms. The UK has made offers across 12 major services sectors and 137 sub-sectors. India will open 11 sectors and 108 sub-sectors. While India has locked in 100% FDI in telecom, insurance and aviation, it refused to ease cap on British banks opening more branches. The deal also facilitates Indian educational institutions & hospitals expanding into UK. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
18-07-2025
- Business
- Time of India
Good news for exporters, jewellery hand carriage facilitation centre opened at Terminal 2 of Mumbai international airport
Mumbai: In a move set to significantly enhance India's gem and jewellery export infrastructure, the Gem & Jewellery Export Promotion Council (GJEPC), in collaboration with Mumbai Customs, inaugurated the Jewellery Hand Carriage Facilitation Centre at Terminal 2 of Chhatrapati Shivaji Maharaj International Airport on Wednesday. Recognising the strategic importance of enabling seamless hand carriage, GJEPC secured and equipped a dedicated space at the airport. With the premises now officially notified as a customs area and Bharat Diamond Bourse appointed as custodian, the centre is fully operational, offering 24x7 services for jewellery hand carriage exports and imports. The launch of this dedicated facility follows a push by the GJEPC to address logistical and regulatory challenges associated with high-value, hand-carried gem and jewellery consignments. Mumbai, which accounts for nearly 65%–70% of India's gem and jewellery exports, saw shipments worth $19.65 billion from the western region in 2024–25. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Ashok Gajera, managing director of Laxmi Diamond, one of the largest export houses, said, "The new centre provides a single-window clearance system with integrated support from Mumbai Customs, CISF, police, and airport authorities. It will streamline high-value exports, reduce paperwork, and significantly cut turnaround time, offering exporters both transparency and operational ease." Gajera explained that earlier when there were orders from clients, jewellery or samples would have to be exported, and the businessman would fly out later once the jewellery reached the destination. This, he said, was not only a "time-consuming affair" but also a "tedious one". GJEPC chairman Kirit Bhansali said, "This milestone is part of the council's wider commitment to ease of doing business. Alongside the e-commerce channel, hand carriage will prove vital for MSMEs and for high-value shipments, especially to FTA partner nations, such as UAE under CEPA, Australia under ECTA, and the UK. It's faster, more cost-effective, and flexible — ideal for urgent global orders." Personal carriage of jewellery for export is currently permitted at nine locations under India's Foreign Trade Policy — Mumbai, Delhi, Kolkata, Chennai, Kochi, Coimbatore, Bengaluru, Hyderabad, and Jaipur. Imports are allowed at seven airports. However, fully operational hand carriage centres are presently available only in Delhi, Mumbai, Kolkata, and Jaipur. GJEPC noted that this facility is part of a broader rollout across nine Indian cities, in alignment with the govt's thrust on improving export competitiveness and simplifying procedures.
News18
18-07-2025
- Business
- News18
Significant increase in investment in Bengals education sector: Official
Kolkata, Jul 18 (PTI) The West Bengal government has significantly increased investment in education infrastructure at both the primary and higher education levels, a senior education department official said on Friday. Principal Secretary, School & Higher Education Department, Binod Kumar, said the state has made substantial progress over the past decade in building educational infrastructure, expanding institutions, and promoting digital education. 'The school education budget has risen from Rs 829 crore in 2010-11 to Rs 10,260 crore in 2024-25, while higher education spending has grown from Rs 1,724 crore to Rs 6,404 crore during the same period," Kumar said while speaking at Assocham organised EduMeet 2025, according to a statement. Kumar said that the number of universities in the state has expanded from 12 in 2010-11 to 46 at present, including 31 state-run and 15 private universities. Similarly, higher education institutions have nearly doubled from 1,056 to 2,049, and 7,260 new schools have been added, taking the total to 57,690. Kumar also highlighted progress in enrollment and gender parity. 'The gross enrollment ratio has grown from 13.24 lakh to 27.22 lakh students, and the gender parity ratio has improved from 42 per cent to 50 per cent, ensuring equal participation of boys and girls in education," he said in the statement. Kevin Goh, Acting Consul General of Australia, said Australia is keen to collaborate with India not only at the university level but also in vocational, secondary, and skills-based education. He cited the Australia-India Economic Cooperation and Trade Agreement (ECTA) and the MATES scheme as key enablers of education and skills mobility between the two countries. PTI BSM RG view comments First Published: July 18, 2025, 21:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
18-07-2025
- Business
- Time of India
Exporters can now hand-carry jewellery for exports via new facilitation centre at Mumbai airport
Exporters can now hand-carry jewellery in their bags which are meant for exports. The Gem & Jewellery Export Promotion Council ( GJEPC ), in collaboration with Mumbai Customs , has come up with a Jewellery Hand Carriage Facilitation Centre at Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA). Recognising the potential of hand carriage for boosting gem and jewellery exports—especially from Mumbai, which typically accounts for nearly 65–70% of the country's exports—GJEPC engaged with the government to come up with a facilitation centre. Explore courses from Top Institutes in Select a Course Category Anticipating future clearance, the Council secured a dedicated space at the Mumbai airport on a rental basis and fully equipped it in advance. With the premises now notified as a customs area with Bharat Diamond Bourse appointed as a custodian, the Centre is fully operational—ready to facilitate round-the-clock hand carriage exports. In FY 2024-25, gem and jewellery exports from the Western Region (Mumbai Port) totalled US$ 19,653.24 million, accounting for approximately 68% of India's total gross gem and jewellery exports during the year. The new dedicated facility is aimed at streamlining export procedures for high-value gem and jewellery shipments carried by hand, bringing greater transparency, faster clearance, and enhanced ease of doing business for exporters. Live Events Kirit Bhansali, chairman, GJEPC commented, 'Alongside the e-commerce export channel, hand carriage will prove especially beneficial for MSMEs and high-value shipments , especially to Free Trade Agreement (FTA) partner nations such as UAE under CEPA, Australia under ECTA and UK FTA." Dnyaneshwar B. Patil, Development Commissioner, SEEPZ-SEZ said' With SEEPZ contributing a significant share (around 13%) to India's gem and jewellery exports, the availability of a dedicated hand carriage facility just minutes away will enable faster clearances, reduce logistical hurdles, and provide greater flexibility for companies handling high-value, urgent shipments.' The new facilitation centre will serve as a single-window facility supported by Mumbai Customs, CISF, police, and airport authorities. Personal carriage of gem and jewellery is permitted through select airports as specified in the Foreign Trade Policy. For exports, the facility is allowed at nine locations: Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bengaluru, Hyderabad, and Jaipur. For imports, personal carriage is permitted at seven locations: Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Jaipur. At present, the personal hand carriage facility is operational in Kolkata, Jaipur, Mumbai, and Delhi. The Council noted that this initiative is part of a broader rollout across nine key centres in India, designed to strengthen infrastructure for the gem and jewellery export sector.
Time of India
05-07-2025
- Business
- Time of India
Piyush Goyal counts on FTAs and resilience to drive India's exports past $870 bn amid global headwinds
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Despite global headwinds, commerce and industry minister Piyush Goyal believes India's exports will reach a new record this year, aided by free trade agreements (FTAs) and investments flowing into key sectors. In an interview with The Times of India, Goyal said India is reviewing older FTAs with ASEAN and Japan while remaining cautious in trade engagements with said that over the past 11 years under the Modi government, India has managed to deal with uncertainty and volatility effectively. Total exports hit an all-time high of $825 billion in 2024–25, growing over 6% and maintaining a compound annual growth rate (CAGR) of 5.8% over the last decade. Electronics grew at a 20% CAGR, and engineering and pharmaceuticals also performed well. From 2019–20 to 2024–25, goods exports posted a CAGR of 6.9%, despite the Covid years. Between 2019 and 2023, commercial services exports registered a CAGR of 12%.Goyal said that in the coming year, goods exports, especially non-petroleum products, may grow 5–6%, while services may grow 9–10%. 'If we can achieve that, we are looking at crossing $870 billion in the current year, despite the global problems,' he said. 'Our focus is more and more on value-added and labour-intensive goods and services exports.'FTAs, he said, have helped reshape India's trade relationships. The country has signed FTAs with the UAE, Australia, EFTA and the UK. 'With the UAE, services exports have almost doubled in the last four-five years. In Australia, it has nearly tripled. On the goods side too, we have grown very well. In Australia's case at 25%, we have crossed $8 billion, while we were tottering at $3 billion earlier,' he Goyal pointed out that FTAs signed during the UPA years have not yielded similar gains. 'Services export to Japan is slowing down. We did not get very wide coverage in areas of interest for India. It's a sad situation and I hope that our efforts for a review will bear fruit. Japan has not agreed to it and a South Korea review is underway,' he said. Goyal said the Modi government signs FTAs only after consulting stakeholders and prioritising national whether opting out of RCEP was the right move, Goyal said that before the decision, the government held 200 consultations with stakeholders and only three of them supported joining. 'PM Modi showed decisive leadership and sensitivities for our fishermen, farmers, industry and entrepreneurs. He recognised that it was nothing but FTA between India and China because we had agreements with the others,' he said. He added that India has since signed an ECTA with Australia and could soon finalise an agreement with New Zealand. 'Just this week at a meeting with exporters, the issue came up and not one of them suggested that we should join,' he the ASEAN FTA, Goyal said India could do much better. 'I am hopeful that both Korea and ASEAN will recognise the asymmetries in the FTAs signed 15 years ago and will make them more contemporary, fair, balanced and equitable,' he whether Chinese goods are being routed through ASEAN countries, Goyal pointed to the US-Vietnam agreement, which focuses on transshipment. 'Every day we get cases of sub-standard goods coming in, predatory pricing being deployed for exports and to kill Indian industry,' he said. The government, he said, is working to strengthen Make in India, support domestic industry when it is impacted by predatory pricing, and focus on Quality Control about the US's China+1 strategy, Goyal said it is taking a two-pronged approach—acknowledging that complete decoupling is not possible while simultaneously strengthening supply chains. This, he said, presents opportunities for India. 'India is a much sought after destination for investments. There are collaborations for technology. In the maritime sector, India is recognised as a shipbuilding destination and govt is also coming up with measures to support it,' he called semiconductors a success story under the Modi government and said domestic value addition has increased significantly in PLI-supported about India's trade deficit with China, which is nearing $100 billion, Goyal said that during the 10 years of UPA rule, the trade deficit with China grew nearly 25 times, but between 2014–15 and 2023–24 it has only expanded 1.75 times. 'We have managed to bring some reasonable controls. Electrical equipment, machinery, organic chemicals and plastics are our major imports. Between 2019–20 and 2023–24, there has been an increase in import of these items from China, but there is also a corresponding increase in exports, showing that several items imported from China are raw material, inputs or capital goods used for making finished products in India,' he said there are several non-tariff barriers in China, such as language issues and procedural delays. 'Many industries just don't buy from India even when our products are competitive. Getting more market access is an area in which we are working with China through our embassy,' he acknowledged that China has at times restricted exports of items such as rare earth magnets, fertiliser, tunnel boring machines, and recently recalled engineers. Despite this, there are demands from Indian industry to lift some of the checks on Chinese investments, visas and apps. Goyal said if China is willing to engage on fair trade terms, India will be open to talks for a more equitable system. 'Time will tell,' he said when asked whether the conditions are right to lift some of the the outlook for the first quarter, Goyal said that signs of a slowdown exist, but rural demand has improved significantly. 'You may see a jump in growth in the second half of the year. I see no difficulty in closing the year with RBI's 6.5% growth which will make us the fastest growing economy,' he concerns about weak private capex, Goyal said it varies by sector. He mentioned steel, with planned investments of ₹20 lakh crore over 10 years, cement, auto parts and sanitaryware as areas seeing heavy investment. He also mentioned growing demand for white goods driven by tax cuts and higher incomes, and recent GST reduction talks. 'Auto sector is growing rapidly and our efforts in electronics are showing results. Some of the investment going into GCCs may not be fully captured,' he increasing foreign direct investment, Goyal said outward investment is helping India build an asset base abroad. 'In the long run this will be our strength,' he upcoming changes in SEZ rules, Goyal said there are suggestions to help SEZ units improve capacity use and reduce reliance on FTAs. The government is working with relevant departments to finalise changes by quality control orders (QCOs), Goyal said they are aligned with the Prime Minister's vision of 'zero defect-zero effect' manufacturing. 'Technical regulations have been strengthened to promote a strong quality ecosystem in India, enhance product safety for consumers, prevent the import of substandard goods, protect the environment and attract investment. It acts as a nudge to produce quality products in India,' he industrial corridors and 100 new industrial parks, he said that in Dholera, Shendra-Bidkin, Greater Noida and Vikram Udyogpuri, over 4,200 acres have been allotted and 76% of developed land is under committed use. Dholera is emerging as a semiconductor hub, while Shendra-Bidkin in Maharashtra is growing into an automotive and EV 12 new projects approved in August last year, tenders have been floated and ground work is expected to start by October or November. On the 100 industrial parks, the blueprint is nearly ready. These will be developed through special purpose vehicles involving the Centre, states, and in some cases private players. A single window system for approvals will be introduced and plug-and-play infrastructure maintained.(with ToI inputs)
