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india uk deal
India-UK FTA Historic Deal Provides Duty-Free Access To 99% Of Indian Goods
India and the United Kingdom signed a historic free trade agreement (FTA) on July 24 during PM Narendra Modi’s visit to the UK, where he met his British counterpart Keir Starmer. This FTA which was under negotiation for around three years, will give a much-needed boost to bilateral trade between the two countries by around $ 34 bn annually. The deal was signed by Commerce Minister Piyush Goyal and his British counterpart Jonathan Reynold in presence of the PMs of both the countries. With this landmark deal, India is set to see tariff slashes on several products imported from the UK and the export businesses in India will also benefit immensely. Goyal said that the deal provides duty-free access for about 99% of Indian exports, which will unlock “nearly $ 23 bn in opportunities for labour-intensive sectors, marking a new era for inclusive and gender-equitable growth.” Here’s what gets cheaper for India in terms of imports. (1) Aerospace parts & medical devices. (2) Soft drinks, cars: India will also have better access to British products such as soft drinks, cosmetics and cars. India’s average tariff on UK products will drop from 15% to 3%. (3) Duty cut on scotch by 50% — from 150% to 75% and then to 40% over the next 10 years – giving the UK an edge over international competitors. (4)  More affordable for Indians to live in the UK. Indian firms and freelancers will have access to 36 service sectors in the UK with no ‘Economic Needs Test’.  And Indian professionals can work in 35 UK sectors for 24 months, even without an office in the country. With tariff elimination (as high as 18%) under the CETA, engineering exports to the UK could nearly double in the next five years to touch $ 7.5 bn by 2029-30.
monsoon session
Rajya Sabha Elders Take A Break From Protests To Bid Goodbye To 6 Retiring MPs From TN
In an unusual break from noisy disruptions and hurried adjournments that have marked the Monsoon Session in the past few days, the Rajya Sabha briefly paused to bid goodbye to 6 MPs who were retiring. Incidentally, all MPs were from Tamil Nadu — MDMK veteran Vaiko, PMK leader Dr Anbumani Ramadoss and DMK leader MM Abdulla and three others. It was great to hear the way leaders of other political parties — particularly John Brittas of the CPI(M) or Manoj Jha of RJD — were paying tributes to octogenarian Vaiko for inspiring them to raise issues on the floor of the House. Recalling Vaiko’s commitment to Sri Lankan Tamils’ cause, Brittas mentioned how Vaiko would always be remembered for his daring and courageous journey to Sri Lanka some half-century ago to meet with the (now eliminated) LTTE chief Velupillai Prabhakaran. “He had then dodged watchful eyes of the Indian Navy as well the Sri Lankan Navy. More than Prabhakaran, it was Vaiko whose daring journey to LTTE hide-out and back made him a hero.”  Brittas also shared how FM Nirmala Sitharaman had in a chat recalled Vaiko’s fiery oratory in his younger days. Barring lawyer P Wilson, DMK had not renominated any of its retiring MPs. Vaiko, who entered the RS with the help of DMK, could not have expected TN chief minister MK Stalin to back him as he had left the DMK protesting against late Karunanidhi promoting Stalin as his heir apparent. Ironically, Vaiko is now promoting his own son Durai Vaiko, who is Trichy Lok Sabha MP, at the cost of other MDMK leaders. AAP MP Sanjay Singh was amazed that DMK member MM Abdulla in his farewell speech raised an issue of connectivity for Hindu pilgrims on a busy route in Dindigul district– that too visiting a temple dedicated to a religious man who had passed away recently.

TRENDS & VIEWS

Editor’s Note: Short Post Is Here To Stay…

Time, they say, flies—and how true that is. Here we are celebrating our 5th Anniversary. Five years ago, when Covid-19 was wreaking havoc across the globe, I took a leap of faith and launched Short Post, India’s first website for Authentic Gossip. That was on January 31, 2021. I was convinced there was a clear gap in the market for gossip that was credible, sharp, and impactful—especially if told in just 250 words.

In this, I was fortunate. Scores of senior editors across diverse verticals bought into the idea and, in the process, gave wings to my dream. Quite honestly, Short Post could not have crossed these milestones without the unflinching support of its contributing editors. Like all start-ups, we have seen our share of ups and downs, but these editors have stood by us like a rock. I take this opportunity to doff my hat to them.

Thanks to their commitment, we have published close to 5,000 stories spanning politics, business, entertainment, and sports. I say this with pride: we made our mark as people who matter read us. “Small packs, big impact” truly captures the essence of Short Post.

We all know that Covid-19 has reset businesses worldwide, and the media sector is no exception. In the post-Covid era, investors have become more cautious and selective—and advertisers too. To compound matters, the entry of AI has disrupted the media landscape in equal measure. So far, we have managed to hold our ground, hopeful that some angel investors will take a shine to us.

What gives me confidence is this: AI cannot smell news—especially the gossipy kind. In other words, AI cannot churn out Short Post-type stories, no matter the prompt. That puts us in a safe zone. As someone rightly said, “AI is a co-pilot, not a pilot.”