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India held two-day "Chintan Shivir" to formulate strategy and SOPs for FTAs
The commerce ministry's two-day "Chintan Shivir" aimed to develop strategies for free trade agreements (FTAs), focusing on India's trade vision for 2047 and new FTA disciplines. Experts emphasized consultation with stakeholders and timely sharing of negotiation details. India is negotiating FTAs with various countries, including the UK, EU, Australia, Eurasian Economic Union, and Peru. Negotiations for the India-EU FTA are at a crucial stage, while the India-UK FTA has made progress but faces challenges like tariff reductions and fair treatment of Indian workers in the UK.
Repair or replace? Insurers in this country sending electric cars to junk yards due to mechanic shortage
Electric car sales in the UK face challenges due to a shortage of trained technicians for complex EV repairs. The scarcity of repair technicians poses a threat to exacerbate this situation, particularly in the UK, where consumer adoption has remained stagnant for nearly two years. The lack of mechanics trained to handle advanced EV repairs is contributing to the escalation of repair costs.
Round 14 of India-UK FTA talks closes ahead of election schedule
The fourteenth round of free trade agreement (FTA) negotiations between India and the UK has concluded, with the next round expected to commence after the Indian general elections. The negotiations, which began in January 2022, aim to enhance bilateral trade, currently valued at around GBP 38.1 billion annually. Both sides remain committed to reaching an "ambitious" deal but acknowledge the need for further discussions to finalize terms across goods, services, and investment. The UK seeks reduced tariffs on exports to India, while India is concerned about the fairness of rules for Indian workers in the UK.
UK team heads back to London with Round 14 of FTA talks with India still open
Earlier, UK Secretary of State for Business and Trade Kemi Badenoch said that while a trade deal with India is "possible" to be concluded before a general election in the country, Britain does not want to use that as a deadline. "We can actually sign an agreement before the Indian election. I suspect that that is not necessarily going to be the case because I don't want to use any election as a deadline," Badenoch said during a Global Trade conference at Chatham House in London on Thursday.
FTA ‘possible' before India elections, says UK trade minister Kemi Badenoch
The UK trade deal with India could be concluded before the general election, but no deadline has been set. UK Secretary of State for Business and Trade Kemi Badenoch emphasized the importance of a commercially meaningful pact and discussed the ongoing negotiations and concerns
Charting the global economy: UK, Japan fell into recession at the end of 2023
The euro-area economy is entering 2024 on a weaker footing than previously expected, according to new European Union forecasts that anticipate another year of subdued growth.
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UK seeks customs duty concessions on EVs in FTA with India
The fast-growing EV market in India is catching the eyes of global players. The UK is also looking at phasing out ICE (internal combustion engine) vehicles by 2035, and the British auto market is export-driven.
Britain says makers, not car owners liable for self-driving crashes
Britain will make the makers rather than the owners of self-driving cars legally liable for any crashes under a framework for developing autonomous vehicles (AV), the government said on Tuesday, in a move welcomed by insurers and AV startups.
India-UK trade pact talks at advanced stage; ironing out differences: Govt
India and the UK are in advanced negotiations for a free trade agreement, with both sides working to resolve remaining issues. Talks are expected to conclude this month, and a majority of the chapters have already been closed. The main points of contention include dispute settlement mechanisms and import duties on goods such as scotch whiskey and automobiles. India is seeking greater market access for skilled professionals in sectors like IT and healthcare, while the UK is looking for opportunities for its services in Indian markets.
C'mon, India-UK FTA! A European gateway
Legal services are opening up gradually to foreign players, and the treaty could become the prototype for other countries seeking a bigger role in the Indian market. India is not seeking mobility of labour on a scale to affect Britain's immigration policy, a political hot potato. Investment protection, part of a separate agreement, need not be a casualty of India's insistence on local legal remedies before international arbitration.
British delegation to start next round of India-UK FTA talks on Monday
A 30-member delegation from the UK will begin the next round of negotiations for a free trade agreement with India, aiming to resolve remaining issues and conclude talks soon. The talks for a proposed bilateral investment treaty are also progressing at a faster pace. One point of contention is the mechanism for settling disputes. India is seeking greater access for skilled professionals in sectors like IT and healthcare, while the UK is looking for reduced import duties on goods such as scotch whiskey. The bilateral trade between the two countries increased to $20.36 billion in 2022-23.
Why James Bond stunt car hopes to see more action on Indian roads
Aston Martin plans to expand its presence in India's luxury car market, targeting the growing number of rich individuals who are willing to spend on high-end brands. The company currently sells around 10-15 units in India each year and aims to introduce new models, including an electric vehicle, to attract more customers. India's luxury car market has been experiencing strong growth, with sales of ultra-luxury cars increasing by 50% in 2022. However, high taxes on super luxury cars remain a challenge, limiting sales in the country.
Indian auto insurance technology startup listed on Nasdaq
Roadzen has partnered with global automotive players, including Mercedes, Audi, Volvo-Eicher, Mitsubishi, Skoda, Seat, Renault, and Dacia, major insurers such as Axa, Societe Generale, and Arch, and fleet companies such as CJ Darcl.
EV batteries remain major challenge for insurers: UK's Thatcham Research
Insurers have complained that many EVs have no way to repair or assess even slightly damaged battery packs after accidents, forcing them to write off cars with low mileage - leading to higher premiums and undercutting gains from going electric.
An option to have tea in small car
The prices of this company have been sliding lower since the start of this year. However, it formed a higher low in March and crossed the swing high. This confirms the formation of a bottom on the charts. The price has given a symmetrical triangle breakout by surpassing the upper trendline resistance, which suggests a sharp upside in the price in the short term.
Scratched EV battery? Your insurer may have to junk the whole car
Battery packs can cost tens of thousands of dollars and represent up to 50% of an EV's price tag, often making it uneconomical to replace them.
Scratched EV battery? Your insurer may have to junk the whole car
EVs constitute only a fraction of vehicles on the road, making industry-wide data hard to come by, but the trend of low-mileage zero-emission cars being written off with minor damage is growing.
Car insurance in UK: How to get best coverage at cheapest price
Car Insurance premiums have several methods to work your way around for the best and cheapest tips. Here is what you need to do to get the best premium deals.
Chinese carmakers target more European sales with five-star EVs
In the last few months, several Chinese EVs have received five-star European New Car Assessment Programme (NCAP) ratings - an achievement that requires loading vehicles with active and passive safety features that go well beyond legal requirements. Five-star Euro NCAP ratings are seen as key to overcoming residual European concerns over the quality of Chinese-made cars.
UK Autumn statement: Key announcements by Chancellor Jeremy Hunt
British Chancellor Jeremy Hunt reduces the top-line for tax and keeps it at the £125,140 threshold from the earlier £150,000 in his autumn statement, and those earning above £150,000 will be paying £12,000 more per year.
Can Bhavish Aggarwal become India’s answer to Musk or will he collapse?
In his twenties, the founder of India’s largest ride-sharing company held off deep-pocketed rival Uber to remain the country’s top brand. Now, Aggarwal wants his Ola Electric Mobility Pvt Ltd to displace Elon Musk’s Tesla Inc and China’s BYD Co. as the industry leader for electric vehicles by carving out a niche in lower cost designs.
Digit Insurance files for Rs 5,000 crore IPO; Tiger slashes portfolio to the bone
Digit's IPO plans come at a time when tech stocks have dipped owing to worsening macroeconomic conditions.
Truecaller goes public; CarDekho heads for unicorn club
Truecaller, the Swedish-yet-desi company that changed the way we all use our phones, made its debut on Nasdaq Sweden earlier today with a market cap of about $2.5 billion.
Exclusive: CarDekho set to turn unicorn with Mirae, AIA Group-led funding round
CarDekho is in advanced talks to raise $100-150 million in a funding round led by Hong Kong-based insurance giant AIA Group and South Korea’s Mirae Asset Group at a post-money valuation of $1.2-1.4 billion.
Explainer: Brexit trade deal will lessen, but not kill, the economic pain
The UK government's Office for Budget Responsibility (OBR) forecast that, with a deal, Britain would see a loss of output of around 4% over 15 years compared to remaining in the EU. EU economies will also be hit, though to a lesser degree -- even if some, such as Ireland and Belgium, suffer more than others.
Explained: The potential impact of Brexit without a trade deal
The shock result of Britain's referendum on leaving the EU in 2016 sent the pound down 8% against the dollar, its biggest one-day fall since the era of free-floating exchange rates began in the 1970s
Civil aviation min, DGCA grant conditional exemption to NCRTC for using drones
The conditions include securing necessary clearances from the local administration, Ministry of Defence, Ministry of Home Affairs, Indian Air Force and Airport Authority of India, prior to operation of remotely piloted aircraft system (RPAS), the Civil Aviation Ministry said in the release.
Ritesh Jain’s what I read this week: What if your pension fund fails to deliver!
Alternative assets such as private equity and real estate would yield higher profits. In a balanced portfolio, that mix would work out to about 5.5 per cent.
Motor cover: Technology will drive down cost of car insurance
Some experts suggest that rates could drop by as much as half thanks to the use of devices such as immobilisers, rear view cameras, speed governors that boost safety.
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