Business
India-EU FTA talks continue: Key issues remain unresolved, says envoy; claims deal could be a ‘game changer’ – The Times of India
The potential free trade agreement (FTA) and investment protection pact between India and the EU could be a “game changer” amid rising tariffs and market access restrictions in other regions, said EU Ambassador Herve Delphin. Speaking ahead of the 14th round of FTA negotiations in Brussels, Delphin acknowledged that talks remain “challenging” with several unresolved issues. The comments come after Prime Minister Narendra Modi and European Commission President Ursula von der Leyen committed to concluding the trade deal by December 2025. The EU is India’s largest trading partner, with goods trade reaching $135 billion in 2023-24. Delphin, addressing the Federation of European Business in India (FEBI) on Tuesday, highlighted the FTA’s potential to open new opportunities and strengthen bilateral trade ties, particularly in light of trade disruptions caused by policies under the Trump administration.“The FTA can open new opportunities for EU and Indian businesses and create conditions to significantly increase our bilateral trade and investment,” Delphin said.“While some countries are raising tariffs or otherwise closing their markets, we should use the FTA to diversify trade, hedge against uncertainties and strengthen our supply chains,” he further added at Federation of European Business in India (FEBI) on Tuesday, the script of which was released Saturday.EU Ambassador Herve Delphin also said the negotiating teams from India and the EU are working diligently on the free trade agreement (FTA). “(It is) fair to say the negotiations are challenging and important issues remain to be solved. The 13th round earlier in September with the direct involvement of Commissioners (Maros) Sefcovic and (Christophe) Hansen on the EU side did not result in the sort of breakthrough, which was expected,” he said.The 13th round of negotiations took place in Delhi, with European Commission Agriculture Commissioner Hansen and Trade Chief Sefcovic in attendance.Delphin added, “The EU was and is still ready to conclude on a meaningful package. We look forward to the next round and further negotiations towards a mutually beneficial deal.”According to the EU, while 11 chapters—including customs, dispute settlement, and digital trade—have been finalised, key areas such as rules of origin and market access are still under discussion. The 13th negotiation round in September, involving Commissioners Sefcovic and Hansen, did not yield the anticipated breakthrough. Delphin emphasised the EU’s readiness to conclude a meaningful deal, pointing to the strong economic complementarity between India and the EU. “Given that the EU and India represent the second and fourth largest economies globally, the potential for expanding bilateral trade relations is significant,” he said.
Business
India’s services, manufacturing’s export potential untapped; FDI a concern: World Bank South Asia chief economist – The Times of India
India’s services and manufacturing exports hold significant untapped potential for overseas investors, according to Franziska Ohnsorge, Chief Economist for South Asia at the World Bank.“I draw attention to two opportunities for investment. One is in services exports and the other is in goods exports because it’s the export industry rather than tradable industries that foreign investors tend to be interested in,” Ohnsorge told ANI on the sidelines of the Kautilya Economic Forum in New Delhi. She added that India’s strong government readiness for AI further strengthens this potential.Ohnsorge pointed to the rapid expansion of computer services exports, which surged 30 per cent following the launch of ChatGPT in November 2022, compared to a 10 per cent rise in overall services exports. “Computer services exports have been soaring relative to average services exports since the introduction of ChatGPT in November 2022. So computer services exports have grown by 30 per cent, but overall services exports only by 10 per cent. There seem to be real opportunities in that sector,” she said.On manufacturing, she underlined constraints posed by limited trade agreements and high tariffs on intermediate goods. “India currently has much fewer trade agreements than other emerging markets and developing economies and has higher tariffs on intermediate goods and this is something that holds back its manufacturing sector. So I’ll show that if these trade agreements that are currently under negotiation materialise, it would increase the market access of India’s manufacturing industry by multiples,” she noted.India is currently negotiating free trade agreements (FTAs) with partners including the UK, EU, Oman, Canada, and members of the Indo-Pacific Economic Framework (IPEF). Bilateral trade discussions with the US are also ongoing.On investment trends, she observed that private investment growth in India has slowed compared to pre-pandemic levels, but remains stronger than in most emerging markets. “Private investment growth has slowed in India from pre-pandemic rates to post-pandemic rates. And that is the opposite of what has happened in other emerging markets and developing economies. But even with this slowdown, private investment growth in India is still higher than the average for other emerging markets and developing economies. So by international standards, private investment growth is not weak. By India’s standards, it’s weak,” she explained.However, she flagged foreign direct investment (FDI) as a key area of concern. “What is weak by international standards is FDI. The FDI to GDP ratio in India is in the bottom quartile. Net FDI. GDP ratio is in the bottom quartile of emerging markets and developing economies,” she added.
Business
‘Swadeshi Campaign’ launch: Govt pushes to boost Indian textiles; domestic market demand expected at $250 billion by 2030 – The Times of India
The ministry of textiles has launched the ‘Swadeshi Campaign’ to boost domestic demand for handloom, handicrafts, and textile products across India. The initiative, which will run for six to nine months, aims to reposition Indian textiles as symbols of pride, style, and heritage, particularly among urban youth and Gen Z consumers. According to the government press release, the campaign’s objectives include stimulating domestic textile consumption, empowering weavers, artisans, and textile MSMEs, and aligning efforts with flagship government initiatives such as the PLI scheme for textiles, PM MITRA Parks, and One District One Product (ODOP). It will also encourage institutional procurement, urging ministries, PSUs, and educational institutions to adopt Indian-made textiles for uniforms and furnishings.
Awareness will be created through events, social media outreach, and partnerships with state governments. The campaign will run under the slogan: “स्वदेशी कपड़ा देश की शान—यही है भारत की पहचान” (Swadeshi fabric is the pride of the nation—this is India’s identity). India’s textile and clothing market, valued at $179 billion in 2024, is expanding at an average annual growth rate of over 7 per cent. Household consumption accounts for 58 per cent of the domestic market and is growing at 8.19 per cent annually, while non-household consumption contributes 21 per cent with 6.79 per cent growth. With the government’s continued initiatives and the Swadeshi Campaign, domestic demand for textiles is projected to grow at a CAGR of 9–10 per cent, reaching $250 billion by 2030.
Tess de la MareWest of England
PA MediaA major rail operator has been fined £1m for breaching health and safety law when a young woman suffered a fatal injury after placing her head outside a droplight window.
Bethan Roper, 28, was killed on a Great Western Railway (GWR) train near Twerton in Bath on 1 December 2018 when her head struck a tree branch.
Regulator the Office of Rail and Road (ORR) prosecuted GWR on the grounds it was aware of the issue of droplight windows, and had not yet implemented steps identified in a risk assessment undertaken two months before Ms Roper’s death.
GWR was fined and also ordered to pay £78,000 after pleading guilty to two counts of breaching health and safety law.
Richard Hines, ORR’s chief inspector of railways, said: “Our thoughts remain with the family and friends of Bethan Roper.
“Her death was a preventable tragedy that highlights the need for train operators to proactively manage risks and act swiftly when safety recommendations are made to keep their passengers safe.”
GWR told BBC West: “Bethan Roper’s death was a tragic incident, and our thoughts remain with her family and friends.
“We accept the judge’s decision and remain committed to continuously improving passenger and colleague safety across our network.
“In sentencing, the judge recognised our strong safety record both before and after this incident, and the safety of our passengers and colleagues remains our highest priority.”
Ms Roper, from Penarth in Wales, worked for the Welsh Refugee Council, was a Unite union convener and also chaired the Cardiff West branch of Socialist Party Wales.
She had been returning home from a Christmas shopping trip in Bath and was intoxicated when she boarded the train, an inquest held in 2021 heard.
PA/Cardiff School of JournalismInvestigators told the inquest that a yellow warning label above the window bearing the words “Caution do not lean out of window when train is moving” was an insufficient deterrent.
Ms Roper’s death echoed a similar incident in 2016 in which a passenger died near Balham, south London, resulting in the Rail Accident Investigation Branch (RAIB) issuing safety recommendations in May 2017.
GWR did not produce a written risk assessment until September 2017, but that assessment found droplight windows to be one of the most significant passenger safety risks.
The ORR found the assessment to be insufficient and wrote to GWR about its concerns.
However the assessment was not revised, and the actions GWR had set out to reduce the risk were not implemented before the fatal accident of 2018, the ORR said.
Since Ms Roper’s death, measures have been introduced across the rail industry to prevent passengers leaning out of droplight windows.
Trains with such windows have since been withdrawn from service or fitted with engineering controls to prevent windows being opened while trains are moving.
The ORR said it welcomed actions taken by GWR and the wider industry to reduce risk.
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