Skip to content
Search

Latest Stories

'UK to restart free trade negotiations with India soon'

Negotiations for a free trade agreement between India and the UK began in January 2022 under the Conservative government, with 13 rounds completed.

'UK to restart free trade negotiations with India soon'

The Labour government announced on Monday that it will soon restart negotiations for a Free Trade Agreement (FTA) with India as part of its trading priorities.

Business and trade secretary Jonathan Reynolds outlined the department's approach to international trade deals, emphasising economic growth and high-quality agreements that benefit British businesses and boost jobs.


The Department for Business and Trade (DBT) plans to publish a trade strategy aligned with the government's industrial strategy, enhancing economic security and supporting net-zero ambitions.

Reynolds said, “Boosting trade abroad is essential to deliver a strong economy at home. That's why I've wasted no time taking stock of progress and getting ready to press on with trade talks with our international partners.”

Reynolds highlighted the ambitious trade programme, focusing on creating new opportunities for UK firms. “From the Gulf to India, our trade programme is ambitious and plays to the UK's strengths to give British businesses access to some of the most exciting economies in the world,” he said.

Negotiations for an FTA between India and the UK began in January 2022 under the Conservative government, with 13 rounds completed. Reynolds set the tone for the Labour government's plans to continue the process from where it left off, aiming to finalise the deal.

The DBT noted that a trade deal with India would give UK businesses better access to its growing market of middle-class consumers, projected to reach over a quarter of a billion by 2050. This follows Foreign Secretary David Lammy's recent visit to India to discuss economic and global security.

Natarajan Chandrasekaran, chairman of Tata Sons, expressed support for the negotiations: “I am delighted that the new government has moved so quickly to restart trade negotiations with India. As one of the largest international investors in the UK, the Tata Group supports any action that strengthens the British economy.”

The DBT also aims to deliver trade deals with the Gulf Cooperation Council (GCC), Israel, South Korea, Switzerland, and Turkey. The first round of trade talks under the new government is expected to take place in the autumn, starting towards the end of August.

The department stressed that FTAs are not the only tool for driving economic growth through trade. A proposed trade strategy aims to reset the UK's relationship with the European Union (EU) to support more small businesses in exporting by removing unnecessary barriers.

UK exports totalled GBP 855 billion in 2022, making it the world's fourth-largest exporter. The government is committed to using all available means to help British businesses sell globally.

(With inputs from PTI)

More For You

Campbell Wilson

Air India CEO Campbell Wilson steps down as Air India Express chair

Air India CEO Campbell Wilson steps down as Air India Express chair

AIR INDIA CEO Campbell Wilson is stepping down as chair of Air India Express, the airline’s low-cost subsidiary. He will be replaced by Nipun Aggarwal, Air India’s chief commercial officer, according to an internal memo sent on Tuesday.

Wilson will also step down from the board of Air India Express. Basil Kwauk, Air India’s chief operating officer, will take his place.

Keep ReadingShow less
Air India eyes Boeing jets rejected by Chinese airlines: report

Tata-owned Air India is interested in purchasing jets that Chinese carriers can no longer accept (Photo credit: Air India)

Air India eyes Boeing jets rejected by Chinese airlines: report

AIR INDIA is seeking to acquire Boeing aircrafts originally destined for Chinese airlines, as escalating tariffs between Washington and Beijing disrupt planned deliveries, reported The Times.

The Tata-owned airline, currently working on its revival strategy, is interested in purchasing jets that Chinese carriers can no longer accept due to the recent trade dispute. According to reports, Tata is also keen to secure future delivery slots should they become available.

Keep ReadingShow less
Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

The IT service firm said its revenue would either stay flat or grow by up to three per cent

Getty Images

Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

INDIAN tech giant Infosys forecast muted annual revenue growth last Thursday (17) in an outlook that suggests clients might curtail tech spending because of growing global uncertainty.

The IT service firm said its revenue would either stay flat or grow by up to three per cent in the fiscal year through March 2026 on a constant currency basis. The sales forecast was lower than the 4.2 per cent constantcurrency revenue growth Infosys recorded in the previous financial year.

Keep ReadingShow less
UK retailers

For many retailers, this has meant closing stores, cutting jobs, and focusing on more profitable business segments

Getty

6 UK retailers facing major store closures in 2025

In 2025, several UK retailers are experiencing major store closures as they struggle to navigate financial pressures, rising operational costs, and changing consumer behaviours. These closures reflect the ongoing challenges faced by traditional brick-and-mortar stores in an increasingly digital world. While some closures are part of larger restructuring efforts, others have been driven by financial instability or market shifts that have forced retailers to rethink their business strategies. Let’s take a closer look at six major UK retailers affected by these trends.

1. Morrisons

Morrisons, one of the UK's largest supermarket chains, is undergoing a significant restructuring in 2025. The company has announced the closure of several in-store services, including 52 cafés, 18 Market Kitchens, 17 convenience stores, and various other departments. This move is part of a larger strategy to streamline operations and address rising costs. Morrisons’ parent company, CD&R, has been focusing on reducing overheads and refocusing on core services.

Keep ReadingShow less
Starmer Trump

The UK is seeking an agreement with the US to remove Trump’s 10 per cent general tariff on goods and the 25 per cent tariff on steel and cars.

Getty Images

Industry warns Starmer: Strike deal with US or face factory job losses

FACTORY owners could begin laying off workers within months unless prime minister Keir Starmer secures a trade agreement with US president Donald Trump, MPs have been told.

Make UK, an industry lobby group, told the business and trade select committee that tariffs on British exports were reducing demand for UK-manufactured goods.

Keep ReadingShow less