Skip to content
Search

Latest Stories

UK minister lauds British apple exports to India for first time in 50 years

UK minister lauds British apple exports to India for first time in 50 years

UK INTERNATIONAL trade secretary Liz Truss has lauded exports of apples from England to India, for the first time in half a century, as a sign of the UK-India Enhanced Trade Partnership in action.

Truss said on Twitter over the weekend that the exports of the fruits from a farm in south-east England marked a first for the UK-India trade relationship in 50 years. Her post came in response to a tweet by UK parliamentary undersecretary of state (international trade) Ranil Jayawardena who shared details of his visit to the AC Goatham and Son apple firm in Kent.


“Our apples are now on the way to India for the first time in 50 years thanks to the Enhanced Trade Partnership,” Truss said.

The Enhanced Trade Partnership between the two countries, seen as a precursor to a comprehensive Free Trade Agreement (FTA), was agreed by prime minister Boris Johnson and his Indian counterpart Narendra Modi during their virtual meeting in May.

GettyImages 1163945664 FILE PHOTO: Prime minister Boris Johnson and his Indian counterpart Narendra Modi at the G7 Summit in Biarritz, France, on August 25, 2019. (Photo by Jeff J Mitchell - Pool/Getty Images)

The meeting was followed up by the formal signing of the agreement by Truss and Indian commerce and industry minister Piyush Goyal. It sets a target to double UK-India bilateral trade by 2030.

“India is an outlet that we’ve looked at for a number of years but unfortunately we were precluded at the time because of a ban running back to the 70s,” AC Goatham and Son co-owner Ross Goatham told the UK department of trade.

“With the announcements made the other week of the trade deal, we were pretty much straight on the front foot and I think we’ve had about 20 Indian firms contact us recently, asking if they can buy our apples,” he said.

Jayawardena said during his visit to the farm that the move reflected the UK government’s post-Brexit strategy of expanding Britain’s export markets.

'Another barrier brought down'

“The fact that we have taken back control of our trade policy means real benefits for British farmers and for British food growers and for all British industry, frankly. Another barrier brought down. Our apples can be exported to India for the first time in over 50 years,” he said.

The UK government in May launched a 14-week consultation to seek viewpoints of the public and business before formal negotiations on a UK-India FTA start later this year.

London says it wants a deal with New Delhi that will slash barriers to doing business with India’s £2trillion economy and market of more than a billion consumers. This includes doing away with tariffs of up to 150 per cent on whiskey and 125 per cent on British-made cars, among other products.

The UK department of trade said the aim of the FTA with India is also to enable British services firms to operate in the Indian market.

Trade between the UK and India stands at around £23 billion and both countries want to double it under the ‘Roadmap 2030’ – the plan to deepen cooperation between the two nations across a number of key areas.

More For You

Shein-Reuters

Shein had aimed to go public in London in the first half of this year, subject to regulatory approvals in the UK and China. (Photo: Reuters)

Shein cuts valuation to £40 billion for London listing

SHEIN is preparing to lower its valuation to around £40 billion for a potential initial public offering (IPO) in London, according to three Reuters sources familiar with the matter.

This is nearly 25 per cent lower than the company's 2023 fundraising valuation as it faces increasing challenges.

Keep ReadingShow less
Northern-Superchargers-Getty

Ben Stokes and Matthew Short of Northern Superchargers walk out to bat during The Hundred match between Manchester Originals and Northern Superchargers on August 11, 2024 in Manchester, England. (Photo: Getty Images)

Sunrisers Hyderabad to acquire Northern Superchargers in £100 million deal

INDIAN Premier League franchise Sunrisers Hyderabad is set to become the first full owners of an English Hundred team after agreeing to buy Yorkshire’s Northern Superchargers for a reported £100 million.

The Sun Group will be the third IPL-linked investor in the eight-team Hundred competition, following Reliance Industries, which owns Mumbai Indians, and RPSG, which runs Lucknow Super Giants.

Keep ReadingShow less
BT-Getty

A view of the British Telecom (BT) headquarters in central London. (Photo: Getty Images)

BT to remove diversity targets from manager bonuses

BT will remove diversity, equity, and inclusion (DEI) targets from its manager bonus scheme, replacing them with a measure of overall employee engagement.

The change, set to take effect in April, follows consultation with major investors and has received “strong support,” according to the company, The Telegraph reported.

Keep ReadingShow less
India's central bank cuts interest rates for first time since 2020

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.. (Photo credit: Reuters)

India's central bank cuts interest rates for first time since 2020

THE RESERVE BANK OF INDIA (RBI) reduced interest rates on Friday for the first time in nearly five years, citing concerns over economic growth despite inflation risks.

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.

Keep ReadingShow less
Sri Lanka seeks to negotiate with Adani over renewable energy plants

Gautam Adani

Sri Lanka seeks to negotiate with Adani over renewable energy plants

SRI LANKA’S government started talks with India’s Adani Group to lower the cost of power from two wind power projects the group will build in the island nation’s northern province, the cabinet spokesman said last Tuesday (28).

Sri Lanka has been reviewing the group’s local projects after US authorities in November accused billionaire founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. Adani has denied the allegations.

Keep ReadingShow less