National Pension Scheme subscribers rise 23% to 6.24 cr Y-o-Y
According to data released by the Pension Fund Regulatory and Development Authority (PFRDA) on Friday, in NPS, the highest growth was seen in the All Citizen Model, where the subscriber base rose by a huge 32 per cent to 28.40 lakh from 23 lakh during the year-ago period. The Corporate Scheme too witnessed a jump of 20 per cent, as the subscriber base rose.
India-UK FTA may not meet Diwali deadline over immigration concerns
According to sources, UK's new Home Secretary Suella Braverman recently raised concerns over the deal, saying that she wouldn't support it if it leads to increased immigration from India to the UK. Braverman's comments came close on the heels of UK's new International Trade Secretary Kemi Badernoch also raising concerns over the deal. The UK Prime Minister Boris Johnson had set the Diwali (October 24) deadline for finalising the FTA.
'India wants bilateral trade relations with countries with which it can increase volume'
Under the World Trade Organisation (WTO) mechanism in 1995, the focus was more on multilateral agreements. Now the major difference is that global perspective, global needs and global trade are under greater focus. The intent of the government is now more on 'Make In India' and the attitude is inward looking. So rather than waiting for WTO reforms to happen, India wants to look at bilateral trade relations with countries with which it can increase its trade volume.
India & FTA: Series of bilateral deals to pump up supply chains
The FTAs will further push India's integration into the global economy as a benevolent player creating a win-win model. The India-UK FTA when concluded will be major milestone between the world's two leading economies. During his recent visit to India, UK Prime Minister Boris Johnson pushed for closing the negotiations for an FTA by this October.
WTO to hold ministerial meeting in mid-June
According to a WTO press release, the decision was taken by the organisation's General Council following the easing of the Covid-19 restrictions in the host country Switzerland. The exact dates of the meeting will be specified later.
UK-India FTA: Indian alcohol beverage producers urge Centre for level playing field
The CIABC has written to the Union Ministry of Commerce and Industry requesting it for a staggered reduction in effective Customs duty on spirits and wines under the proposed FTA.
The current Customs duty on white and brown spirits and wines is 150 per cent, it said. The confederation wants that if needed, duties should be brought down gradually in a staggered manner so that Indian manufacturers' interests are safeguarded.
FTA offers huge benefits for British businesses: Boris Johnson
Ahead of the launch of the FTA negotiations, British Minister Boris Johnson said: "A trade deal with India's booming economy offers huge benefits for British businesses, workers and consumers. As we take our historic partnership with India to the next level, the UK's independent trade policy is creating jobs, increasing wages and driving innovation across the country."
India-UK launch crucial free trade negotiations
The FTA negotiations in New Delhi are expected to facilitate the target of doubling bilateral trade between India and the UK by 2030, set by the Prime Ministers of both the nations, Narendra Modi and Boris Johnson, in May 2021. Speaking on the occasion, Goyal said that both India and the UK are vibrant democracies, with a partnership build on the shared history and rich culture of the two nations.
India, UK to launch free trade negotiations on Thursday
Trevelyan will meet her counterpart Union Commerce Minister Piyush Goyal, and the two will jointly and formally begin talks. UK Prime Minister Boris Johnson said: "The UK has world-class businesses and expertise we can rightly be proud of, from Scotch whisky distillers to financial services and cutting-edge renewable technology. We are seizing the opportunities offered in growing economies of the Indo-Pacific to cement our place on the global stage and deliver jobs and growth at home."
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