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UK trade minister Anne-Marie Trevelyan arrives in India for talks

UK trade minister Anne-Marie Trevelyan arrives in India for talks

BRITISH trade minister arrived in India on Wednesday (12) to begin talks as part of its efforts to sign its own trade deals following its departure from the European Union.

Anne-Marie Trevelyan is due to meet officials in New Delhi before formally launching negotiations with her counterpart Piyush Goyal on Thursday (13), her office said.

Britain is keen to secure tariff reductions on Scotch whisky, as well as concessions on manufacturing and financial services, according to a person familiar with the negotiations.

India, meanwhile, seeks greater opportunities for Indians to live and work in Britain, and any trade deal could be contingent on relaxing rules lowering fees for Indian students and professionals.

A deal with India is a major aim of prime minister Boris Johnson's government, as it seeks stronger economic ties with countries in the Indo-Pacific region.

Late last year, the two countries clashed over Britain's coronavirus quarantine rules, that some Indian legislators called discriminatory.

(Reuters)

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UK services sector confidence plunges to three-year low, CBI says

Highlights

  • Services sector optimism falls to -50
  • Chancellor's £26 bn tax increase blamed for adding business costs.
  • Business sentiment remains near record lows despite marginal post-budget uptick.
Confidence in Britain's services sector has tumbled at the fastest rate in three years, with businesses citing mounting cost pressures and reduced profitability, according to the Confederation of British Industry (CBI).

The CBI's optimism index for services firms plummeted to -50 in the three months to November, down sharply from -29 in August. This marks the steepest decline since 2021, reflecting growing anxiety amongst business owners.

The organisation surveyed 398 firms between October (28) and November (13), capturing sentiment both before and after chancellor Rachel Reeves unveiled her autumn budget on November (26). The budget outlined £26 bn in tax rises, equivalent to approximately $34 bn.

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