Tuesday, Aug 20 2019 | Time 17:20 Hrs(IST)
  • Sushil earns a spot for the World Championships after win over Jitender
  • Bengal Governor Jagdeep Dhankar Calls on PM Modi in New Delhi
  • Mjunction wins Best Innovative CSR Project of the Year Award
  • India's E-Visa to cost as per footfall during season
  • Rich tributes offered to Rajiv Gandhi
  • Jawan martyred in cross border firing on LoC, heavy damage to Pak Army posts
  • Odisha to implement one nation one card from September 1
  • Tejaswi, Dipankar hit back at RSS chief on reservation issue
  • Delhi HC rejects bail plea of Cong veteran P Chidambaram
  • Modi congratulates Team ISRO on Chandrayaan-2 entering Moon's orbit
  • Actress Manju Warrier & film crew stranded in HP following heavy rains, floods
  • Cabinet expansion: Disappointed BJP MLAs to chalk out next course of action to bring pressure on High Command for inclusion
  • Yogi ministry expansion on Wed, 2 Ministers resign
  • UP govt defends VAT hike on fuel
  • India beat Japan 6-3 to enter finals of Olympic Test Event
Business Economy

India looking for deeper engagement with UK: Goyal

India looking for deeper engagement with UK: Goyal

New Delhi, Jul 15 (UNI) India is looking for ideas from all sides to strengthen and to give confidence to international investors, with the best of technologies, to come to India and invest, Union Commerce and Industry Minister Piyush Goyal has said.

Interacting with the Indian diaspora in London last night, he said that the Indian community has made India proud by their contributions to the economies of India and the United Kingdom and have also strengthened relations between the two countries.

During his hour-long interaction with the Indian diaspora, the Commerce Minister explained the strategy and focus of the newly elected Government, a statement said here on Monday.

During its first term, the stress was on meeting the basic necessities of common citizens like, housing, electricity, cooking gas and financial inclusion, which has made a huge impact and difference to the lives of the citizens down to the last mile.

Mr Goyal termed the India Day event, which he will address this evening where think tanks and finance companies will come together, as very important, because he will be able to highlight the package of incentives for financial companies, announced by Finance Minister Nirmala Sitharaman in the Union Budget 2019-20. He said he will showcase India’s financial sector, in particular, the Gujarat International Finance Tec-City near Gandhi Nagar in Gujarat.

Speaking on trade with the UK and the US, the Commerce and Industry Minister said India will sit down across the table and find a common meeting ground with both countries.

“There are obviously some red lines, which each side may find very difficult to compromise, but as long as we can respect that, as one would do in a business transaction or while negotiating a good deal, it will not be impossible to resolve it,” Mr Goyal said, adding, “Every country has to protect its national interest, legal sovereignty and the interests of its citizens.”

He added that the FTAs entered into by India in 2009-10 had not been good deals and some of them are causing agony which is why India is looking at the United States to put that baggage behind and move forward.

The Minister informed that he is meeting with leaders of the Government and bureaucracy, during his three-day visit to the United Kingdom, to understand in which direction and time frame the UK is looking at for the BREXIT to happen.

“India is also in discussions to take the next step for deeper engagement with the UK. It is important the process is fast tracked now so that we are ready to work together speedily once BREXIT comes into effect,” Mr Goyal said.

Regarding the ongoing RCEP negotiations, the Minister said India is working for a fair deal which protects the country’s interests and does not allow unfair market access. From now no agreement or trade pact on commerce will be at the cost of India's interests, the country’s sovereign requirements and interests of the citizens.

He said his Ministry is now trying to speed up the entire process and streamline the patent office. There was a 7-year backlog in 2014. From now on all patent applications will be in the public domain and transparency will be maintained.

Speaking on IPR enforcement, Mr Goyal said India has a long way to go as the process itself is very slow at the moment. The entire framework around IPR has to be strengthened in order to give confidence to international investors, with best of technologies, to come to India and invest.


More News

Dr Reddy labs launches powder in US market

20 Aug 2019 | 4:58 PM

Mumbai, Aug 20 (UNI) Pharma major Dr Reddy’s Laboratories Ltd has launched Vigabatrin Powder for Oral Solution in the US market.

see more..

KEC International secures orders of Rs 845 cr in Railway Infrastructure sector

20 Aug 2019 | 4:38 PM

Mumbai, Aug 20 (UNI) The KEC International Ltd, a global infrastructure EPC major, has secured its first order of Rs 845 crore in the emerging Regional Rapid Transit System (RRTS) and Metro sectors in India.

see more..
UP govt defends VAT hike on fuel

UP govt defends VAT hike on fuel

20 Aug 2019 | 4:18 PM

Lucknow, Aug 20 (UNI) The Uttar Pradesh government has defended its decision to hike Value Added Tax (VAT) on petrol and diesel with immediate effect and subsequently increase price of diesel by 98 paise per litre and petrol by Rs 2.

see more..
Hyundai launches Grand i10 Nios at Rs 4 99 lakh

Hyundai launches Grand i10 Nios at Rs 4 99 lakh

20 Aug 2019 | 4:13 PM

New Delhi, Aug 20 (UNI) Hyundai Motor India Ltd, one of the country’s largest car makers, on Tuesday launched its new compact hatchback, the Grand i10 Nios, at a price range of Rs 4.

see more..

TVS Srichakra launches 'TVS Eurogrip' brand

20 Aug 2019 | 4:04 PM

Chennai, Aug 20 (UNI) TVS Srichakra Limited, the leading two
and three-wheeler tyre company, on Tuesday launched 19 new
products under its new brand ‘TVS Eurogrip’ targeted at meeting
the needs of the millennial customers.

see more..