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I’d like to be involved in UK-US trade talks, says Swinney

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I’d like to be involved in UK-US trade talks, says Swinney



John Swinney has said he would like to be involved in trade talks between the UK and US following meetings with President Donald Trump about whisky.

The First Minister has met Mr Trump numerous times this year, championing tariff relief for the Scotch whisky industry – the UK’s biggest drinks export.

Discussions remain ongoing about the imposition of a 10% tariff on exports from the UK to the US, a result of Mr Trump’s desire for the levies.

Speaking to the US president earlier this year during a visit to Scotland, Mr Swinney put the issue of the Scotch industry on the table, with Mr Trump saying he “didn’t know whisky was a problem”, but appearing open to moving on the issue.

Speaking to the PA news agency ahead of the SNP conference in Aberdeen, the First Minister said: “I’ve not been privy to the trade talks.

“I would like to be, because I think I’ve actually been quite helpful in all of this.

“It’s clear to me earlier on this year that whisky was not really featuring in the trade talks at all, it was not there as a principle negotiating priority for the UK Government.

“Well, I had to make sure it was, because it really matters to Scotland.”

Trade remains reserved to the UK Government and the First Minister’s visit to Washington last month was facilitated by former ambassador Lord Peter Mandelson.

Reports emerged last week that whisky could be exempted from the US tariffs, but the First Minister said he had not heard any updates.

“We’ve sought engagement with the UK Government on the trade talks and we’ve had a certain amount of information, but nothing of the detail and I have no update on the events since the last time I had interactions with the Prime Minister on the margins of the state banquet at Windsor Castle when I had the opportunity to discuss it once again with President Trump and also a number of senior members of President Trump’s administration,” he said.

The First Minister argued there was an incentive for the US to reduce tariffs, given casks used to make bourbon whiskey are sold to distilleries in Scotland to age their product, with a fall in output here meaning a decline in demand for American casks.

“That’s a very valuable trade – it’s worth 300 million dollars a year,” he said.

“When I was in the United States in early September, I talked to one of the companies producing the whiskey casks and they’re having orders cancelled from Scotland because there isn’t sufficient production in Scotland to merit the casks coming from the United States.

“So, if we just were to take all of this out of the trade talks to say ‘let’s have zero for zero’, we would see an improvement in the fortunes for Scotch whisky and we’d see an improvement in the fortunes for, principally, interests in the state of Kentucky and the Kentucky bourbon industry.”

A spokeswoman for the UK Government said: “We have always used our trade agenda to promote our world-class Scotch whisky industry, by continually engaging with the US on the issue and securing significant tariffs cuts in our other trade deals like with India.

“Our deal in May secured preferential access to Scotch whisky to the US market compared with other major economies.

“We continue to work to ensure this deal protects British jobs and exports as part of our Plan for Change.”



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Trade talks: India, EU wrap up 14th round of FTA negotiations; push on to seal deal by December – The Times of India

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Trade talks: India, EU wrap up 14th round of FTA negotiations; push on to seal deal by December – The Times of India


India and the 27-nation European Union (EU) have concluded the 14th round of negotiations for a proposed free trade agreement (FTA) in Brussels, as both sides look to resolve outstanding issues and move closer to signing the deal by the end of the year, PTI reported citing an official.The five-day round, which began on October 6, focused on narrowing gaps across key areas of trade in goods and services. Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the final days to provide additional momentum to the talks.During his visit, Agrawal held discussions with Sabine Weyand, Director General for Trade at the European Commission, as both sides worked to accelerate progress on the long-pending trade pact.Commerce and Industry Minister Piyush Goyal recently said he was hopeful that the two sides would be able to sign the agreement soon. Goyal is also expected to travel to Brussels to meet his EU counterpart Maros Sefcovic for a high-level review of the progress made so far.Both India and the EU have set an ambitious target to conclude the negotiations by December, officials familiar with the matter said, PTI reported.Negotiations for a comprehensive trade pact between India and the EU were relaunched in June 2022 after a hiatus of more than eight years. The process had been suspended in 2013 due to significant differences over market access and tariff liberalisation.The EU has sought deeper tariff cuts in sectors such as automobiles and medical devices, alongside reductions in duties on products including wine, spirits, meat, and poultry. It has also pressed for a stronger intellectual property framework as part of the agreement.For India, the proposed pact holds potential to make key export categories such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery more competitive in the European market.The India-EU trade pact talks span 23 policy chapters covering areas such as trade in goods and services, investment protection, sanitary and phytosanitary standards, technical barriers to trade, rules of origin, customs procedures, competition, trade defence, government procurement, dispute resolution, geographical indications, and sustainable development.India’s bilateral trade in goods with the EU stood at $136.53 billion in 2024–25, comprising exports worth $75.85 billion and imports valued at $60.68 billion — making the bloc India’s largest trading partner for goods.The EU accounts for nearly 17 per cent of India’s total exports, while India represents around 9 per cent of the bloc’s overall exports to global markets. Bilateral trade in services between the two partners was estimated at $51.45 billion in 2023.





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Telcos network costs rise: Gap between expenditure and revenue exceeds Rs 10,000 crore; COAI flags rising network investment burden – The Times of India

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Telcos network costs rise: Gap between expenditure and revenue exceeds Rs 10,000 crore; COAI flags rising network investment burden – The Times of India


The gap between telecom operators’ network expenditure and revenue continues to widen, prompting industry body COAI to defend calls for higher mobile tariffs, citing the increasing financial burden of network deployment on service providers.Speaking at the India Mobile Congress, Cellular Operators Association of India (COAI) Director General, SP Kochhar, told PTI that while the government has provided significant support to telecom operators through policies such as the right of way (RoW), several authorities continue to levy exorbitant charges for laying network elements.“Earlier, the gap until 2024 for infrastructure development and revenue received from tariffs was around Rs 10,000 crore. Now it has started increasing even further. Our cost of rolling out networks should be reduced by a reduction in the price of spectrum, levies etc. The Centre has come out with a very good ROW policy. It is a different matter that many people have not yet fallen in line and are still charging extremely high,” Kochhar said.He also defended the recent cut in data packs for entry-level tariff plans by select operators, stressing that the move was necessary given competitive pressures.Kochhar pointed out that competition among the four telecom operators remains intense, and there has been no significant trend suggesting that consumers are shifting towards low-cost data options.“There is a need to find ways to make high network users pay more for the data. Seventy per cent of the traffic which flows on our networks is by 4 to 5 LTGs (large traffic generators like YouTube, Netflix, Facebook etc). They pay zero. Nobody will blame OTT but they will blame the network. Our demand to the government is that they [LTGs] should contribute to the development of networks,” Kochhar said.He added that the investments made by Indian telecom operators are intended for the benefit of domestic consumers and are not meant to serve as a medium for profit for international players who do not bear any cost.





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Indias Real Estate Equity Inflows Jump 48 Pc In Q3 2025: Report

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Indias Real Estate Equity Inflows Jump 48 Pc In Q3 2025: Report


NEW DELHI: Equity investments in India’s real estate sector jumped 48 per cent year-on-year to $3.8 billion in the July-September period (Q3), a report said on Friday. This growth in inflow was primarily fuelled by capital deployment into land or development sites and built-up office and retail assets, according to the report by real estate consulting firm CBRE South Asia.

In the first nine months of 2025, the equity investments increased by 14 per cent on-year to $10.2 billion — from $8.9 billion in the same period last year.

The report highlighted that land or development sites and built-up office and retail assets accounted for more than 90 per cent of the total capital inflows during Q3 2025.

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On the category of investors, developers remained the primary drivers of capital deployment, contributing 45 per cent of the total equity inflows, followed by Institutional investors with a 33 per cent share.

CBRE reported that Mumbai attracted the highest investments at 32 per cent, followed by Pune at around 18 per cent and Bengaluru at nearly 16 per cent.

Anshuman Magazine, Chairman and CEO – India, South-East Asia, Middle East and Africa, CBRE, said that the healthy inflow of domestic capital demonstrates the sector’s resilience and depth.

“In the upcoming quarters, greenfield developments are likely to continue witnessing a robust momentum, with a healthy spread across residential, office, mixed-use, data centres, and I&L sectors,” he added.

In addition to global institutional investors, Indian sponsors accounted for a significant part of the total inflows.

“India’s ability to combine strong domestic capital with global institutional participation will remain a key differentiator in 2026 and beyond,” added Gaurav Kumar, Managing Director, Capital Markets and Land, CBRE India.

CBRE forecasts a strong finish for the investment activity in 2025, fuelled by capital deployment into built-up office and retail assets.

For the office sector, the limited availability of investible core assets for acquisition indicate that opportunistic bets are likely to continue gaining traction, the report noted.



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