Skip to content
Search AI Powered

Latest Stories

India seeks expeditious extradition of Mallya, Nirav Modi from UK

India's foreign secretary Harsh Vardhan Shringla held talks with British home secretary Priti Patel in London during which he strongly underlined India's interest in the expeditious extradition of former Kingfisher Airlines chief Vijay Mallya, who has completed all the legal processes related to extradition from the UK, and fugitive diamond merchant Nirav Modi.

On the last leg of his three-nation Europe tour, Shringla visited London where he held discussions with several UK ministers and officials and during his interactions with Patel and UK foreign office minister for South Asia, Lord Tariq Ahmad, on Tuesday, the issue of economic offenders being extradited to face the Indian judicial system was among the issues raised.


"We strongly underlined our interest in seeing the early, expeditious extradition of Vijay Mallya, who is an economic offender who has completed all extradition procedures in the UK. We would like him to return to India as soon as possible," said Shringla.

"Also, Nirav Modi. I raised this with both Lord Ahmad and the home secretary, and both took very careful note of our priority and sentiments in that regard," he said.

Mallya, wanted in India over fraud and money laundering charges in relation to loans taken out by his now-defunct Kingfisher Airlines from state-owned Indian banks, has been found to have a case to answer in India by the UK courts. He is currently on bail, undergoing a "confidential" legal issue before Patel can consider signing off on his extradition order.

On the other hand, Modi, the fugitive diamond merchant accused of fraud and money laundering in relation to the state-owned Punjab National Bank (PNB), is currently lodged in Wandsworth Prison in London as he fights his extradition to India at Westminster Magistrates’ Court.

Shringla arrived in London following visits to Paris and Berlin on Tuesday and has held a series of meetings to cover a wide range of issues, including the India-UK vaccine partnership in a post-coronavirus world and climate change as well as highlighting India's outlook on the growing importance of the Indo-Pacific region.

On India-UK bilateral ties, the foreign secretary noted the backdrop of Britain's exit from the European Union (EU) paving the way for a reset in the relationship – both with the UK and the EU.

"We are looking at early harvest deals, which would bring benefits to both our countries, followed by a more detailed, either preferential trade agreement or a free trade agreement," said Shringla.

"Obviously, a limited deal means we work on those areas on which both sides can immediately agree to. We need more time to conclude a more comprehensive trade agreement but our ministers are in touch and will work on trying to close such a deal,” he said.

"We are also looking at a similar deal at the EU level, but bilateral agreement is always different from an agreement with a group,” he added.

The Indian High Commissioner to the UK, Gaitri Issar Kumar, highlighted the five priority areas of food and drink, life sciences, information and communications technology (ICT), chemicals and services that have been narrowed down by both sides, with commerce and industry minister Piyush Goyal and UK international trade secretary Liz Truss set to take stock of the level of movement in these areas during talks scheduled for November 9.

Meanwhile, foreign secretary Dominic Raab and prime minister Boris Johnson are among the high-level visits from the UK to India scheduled for 2021, depending on the COVID-19 pandemic lockdown situation.

Shringla noted that with the UK currently undertaking an Integrated Review of its policy framework, the Indo-Pacific region is expected to play a key part in the “transformational relationship” that Raab has previously made reference to vis-à-vis India.

"We believe in the vision of free, open, transparent and inclusive Indo-Pacific stakeholders; we believe in multi-polarity. The framework is there in France and Germany and we see it in the UK also, though it is yet to be articulated in policy framework. It (the Indo-Pacific) has become more significant, relevant and topical," said Shringla.

Besides his ministerial-level and official talks, the foreign secretary also conducted a host of discussions with leading business chiefs and CEOs.

More For You

Boohoo shareholders block Mike Ashley’s bid to join board
Mahmud Kamani

Boohoo shareholders block Mike Ashley’s bid to join board

SHAREHOLDERS of online fast-fashion retailer Boohoo have firmly rejected billionaire Mike Ashley’s attempt to secure a seat on its board. The decision, made at a shareholder meeting on Friday (20), follows a series of heated exchanges between Boohoo and Ashley’s Frasers Group.

A decisive 64 per cent of votes were cast against allowing Ashley and his associate, Mike Lennon, to join Boohoo’s board. Excluding Frasers Group’s 28 per cent stake in Boohoo, nearly all remaining investors voted against the proposal, reported the Financial Times.

Keep ReadingShow less
UK-retail-sales-Getty

Christmas shoppers are seen in Covent Garden on December 6, 2024 in London. (Photo: Getty Images)

Retail sales rise by 0.2 per cent in November after pre-budget decline

UK RETAIL sales increased by 0.2 per cent in November, according to official data, reflecting a modest recovery after October’s decline as concerns about the government’s budget eased. However, the growth was weaker than the 0.5 per cent increase forecast by economists polled by Reuters.

The Office for National Statistics (ONS) reported that the November rise marked the first increase since August. Over the three months to November, sales volumes grew by just 0.3 per cent, the weakest performance since the three months to June. Sales volumes had dropped by 0.7 per cent in October amid caution ahead of Chancellor Rachel Reeves’ tax and spending plan.

Keep ReadingShow less
Budget halted economic growth, Bank of England warns

Bank of England Governor Andrew Bailey reacts during a press conference at the Bank of England in London on Aug 1, 2024.

(Photo by ALBERTO PEZZALI/POOL/AFP via Getty Images)

Budget halted economic growth, Bank of England warns

THE Bank of England has cautioned that the UK economy is stagnating, following measures introduced in chancellor Rachel Reeves’s budget. Businesses are reportedly responding to tax hikes and a higher minimum wage by cutting jobs and raising prices.

Andrew Bailey, the Bank's governor, revealed that growth forecasts for the final quarter of 2024 have been downgraded to "zero." He also stressed a cautious approach to reducing interest rates, which remain at 4.75 per cent, citing economic uncertainty. “We need to ensure we meet the 2 per cent inflation target sustainably,” Bailey said.

Keep ReadingShow less
‘UK-India trade sees growth as
payments rise by 121 per cent’

India is increasingly seen as a hub for global business development, according to HSBC

‘UK-India trade sees growth as payments rise by 121 per cent’

BUSINESS activity between the UK and India flourished in 2024, with payments received by clients in Britain from India rising by 121 per cent, according to the latest data from HSBC UK.

The multinational bank highlighted the figures based on its two-way support for businesses within the India-UK corridor this week and said its data on payments and client referrals showed yearon-year growth.

Keep ReadingShow less
Bank-of-England-Getty

A general view of the Bank of England on December 19, 2024 in London. (Photo credit: Getty Images)

Bank of England maintains interest rate amid inflation rise

THE BANK OF ENGLAND (BoE) on Thursday kept its key interest rate unchanged at 4.75 per cent, opting not to follow the US Federal Reserve's recent rate cut, as inflation in the UK sees an uptick.

"We've held interest rates today following the two cuts since the summer," BoE Governor Andrew Bailey said in a statement.

Keep ReadingShow less