India-UK FTA: New Delhi's auto sector duty concession 'very nuanced'

India’s offer to cut import duties for the auto sector from the UK under the new FTA is “very nuanced” including relaxations and quotas linked to engine capacity and the price of vehicles, a government official said.The free trade agreement (FTA), which was concluded on May 6, aimed to lower tariffs on 99 per cent of Indian exports to the UK and make it easier for British companies to sell goods like whisky and cars in India. The goal is to double trade between the two countries by 2030 from the current level of $60 billion.India also included adequate safeguard points in the pact to protect its sensitive sections. For the automobile sector, India has agreed to reduce import duties gradually over a period of 10 to 15 years. Under the agreement, tariffs on car imports will fall from over 100 per cent to about 10 per cent, but only within fixed quotas.This is expected to benefit companies such as Tata Motors and its British brand Jaguar Land Rover (JLR), PTI reported.Tata Motors Group CFO PB Balaji earlier said that the agreement augurs well to keep driving JLR’s performance in India as it would benefit future cars and enable customers to access global cars and global prices much faster.Meanwhile, luxury carmakers like Mercedes-Benz and BMW have also called the deal a positive step, though they said it may not make a big difference to the prices of high-end cars in India.

Source:The Times

May 25, 2025 09:23 UTC


British king to visit Ottawa amid Trump-Canada tension

Britain's monarch King Charles III (Image: AP)New Royal Threat To Archie & Lili: Sussexes Slammed For ‘Brutal Attacks’A stronger Canada:Britain's King Charles III will travel to Canada early next week for a brief but "impactful" visit, at a time when President Donald Trump is floating the idea of making his northern neighbour the 51st US state.The 76-year-old monarch, who is also Canada's head of state as part of the Commonwealth, has never publicly commented on the ambitions of the US president, a noted admirer of the royal family.Despite battling cancer for over a year, Charles accepted an invitation from Canada's newly appointed Prime Minister Mark Carney to deliver the "speech from the throne" at the reopening of parliament on May 27, outlining the new centre-left government's priorities.Queen Camilla will accompany him on the 24-hour visit to the capital Ottawa. "The King and Queen are very much looking forward to the programme, mindful that it is a short visit but hopefully an impactful one," a Buckingham Palace spokesperson said as the couple's May 26-27 itinerary was released this week.The throne speech is expected to draw close scrutiny, especially on sovereignty and trade, amid Trump's renewed rhetoric about annexing the country of 41 million and his recent imposition of higher tariffs.Charles "will outline our government's plan to build Canada strong," Carney said at a press conference on Wednesday.Earlier he said: "This is an historic honour which matches the weight of our times. "Traditionally, the speech is read by the governor general, the monarch's representative in Canada.The last British sovereign to deliver the speech in Canada was Queen Elizabeth II in 1977.Carney, who became prime minister in late April, made defending Canada's sovereignty central to his campaign.During a 6 May meeting at the White House, he told Trump that Canada "is not for sale". "It won't be for sale, ever," he said, responding to the US president's talk of the "tremendous benefits" of a "wonderful marriage".This will be Charles's 20th visit to Canada, but his first since becoming king in September 2022. It is Camilla's sixth visit and her first as queen.The visit will begin Monday afternoon with a community event at the city's Lansdowne Park celebrating Canada's diversity and cultural heritage through music and crafts.The king will also meet with Carney and Governor General Mary Simon.At Rideau Hall, the official residence of the governor general, the king will plant a tree before a short reception with the lieutenant governors of Canada's 10 provinces and the territorial commissioners.On May 27, the king and queen will ride in a carriage pulled by 28 horses to the Senate for the throne speech, scheduled around 1500 GMT, with full military honours.The visit will conclude with a wreath-laying at the Tomb of the Unknown Soldier.A Canadian doctor has been assigned to the king, who is undergoing weekly treatment for an unspecified cancer.

Source:The Times

May 24, 2025 21:52 UTC


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