Union Commerce and Industry Minister Piyush Goyal on Saturday unveiled the "UK-India CETA Business Utilisation Manual – A Practical Activation Guide for Indian and UK Businesses" in London, ahead of the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA), which is set to take effect on July 15.

Prepared jointly by the UK India Business Council (UKIBC) and HSBC India, the manual is intended to help businesses understand and take advantage of the opportunities created by the landmark trade agreement. The guide breaks down the provisions of the deal into practical, sector-specific recommendations, offering companies a roadmap for maximizing its benefits. The launch took place at a business event organized by FICCI with support from UKIBC, bringing together senior corporate leaders from India and the United Kingdom at a significant juncture in bilateral economic relations.

According to a statement released on the occasion, leaders from both nations have consistently emphasized the importance of strengthening cooperation in areas such as trade, innovation, and advanced technologies. The statement also highlighted a series of recent high-level interactions, including discussions involving Prime Minister Narendra Modi, UK Prime Minister Keir Starmer’s visit to India in 2025, earlier engagements by Deputy Prime Minister David Lammy, and a recent visit by UK Secretary of State for Business and Trade Peter Kyle.

Trade ties between the two countries have continued to expand, with bilateral commerce reaching approximately £47.9 billion (around USD 56–60 billion) in the four quarters ending in Q4 2025. This represents a 10 percent increase compared to previous years and reflects the growing strength of the India-UK economic partnership.

Speaking at the launch, HSBC India CEO Hitendra Dave said the bank’s strong presence in both markets and expertise in international banking and trade finance would help businesses navigate evolving cross-border opportunities. He noted that the CETA framework is expected to improve market access, increase certainty for businesses, and encourage deeper commercial collaboration.

UKIBC Group CEO Kishore Jayaraman described the agreement as a milestone in one of the world’s most important economic relationships. He said the newly launched manual serves as a practical guide that translates the complexities of the trade pact into actionable steps for businesses operating in both countries. He added that UKIBC remains committed to helping companies fully understand and benefit from the agreement. UKIBC, a not-for-profit organization focused on policy advocacy and strategic consulting, works to promote trade and investment between the UK and India by assisting businesses and universities seeking opportunities in both markets.
Disclaimer: This image is taken from ANI.

The Reserve Bank of India (RBI) has released the final guidelines aimed at expanding the country’s credit derivatives market, allowing broader participation and greater use of instruments such as Credit Default Swaps (CDS) and total return swaps. The central bank announced the move on Thursday, with the new framework coming into effect immediately from June 25, 2026. The development follows the government’s proposal in the Union Budget 2026 to strengthen India’s credit derivatives ecosystem and provide market participants with better tools for managing credit risks.

Under the new rules, resident non-retail users will be permitted to use credit derivative instruments, including CDS and total return swaps, without restrictions on their purpose. However, non-resident participants will be allowed to use these instruments mainly for hedging activities. For resident retail users, excluding individuals, CDS transactions will be permitted only for risk protection purposes. The RBI clarified that such users can purchase credit protection only to hedge their existing exposure.

The updated framework also allows credit derivative contracts involving non-residents to be settled either in Indian rupees or foreign currency, depending on the terms of the agreement. The RBI has expanded the list of eligible participants who can act as protection sellers. Insurance companies, pension funds, mutual funds, Alternative Investment Funds (AIFs), and Foreign Portfolio Investors (FPIs) will now be allowed to sell credit protection under the revised guidelines.

The central bank said it reviewed the draft directions after receiving feedback from stakeholders and incorporated necessary changes into the final Master Directions. Regarding exchange-traded credit derivatives, the RBI stated that stock exchanges will be allowed to introduce standardised single-name CDS contracts and credit index-based CDS products with guaranteed settlement mechanisms. However, exchanges will need prior approval from the RBI before launching any such product, including approval for contract design, eligible participants, and other related features.

The new rules also permit FPIs to participate in credit index futures trading, but with certain safeguards to prevent excessive speculation. FPIs will not be allowed to build large short positions or trade credit index futures linked to very short-term debt instruments. The RBI’s move is expected to improve risk management options for financial institutions, increase market depth, and support the development of a more advanced credit derivatives market in India.
Disclaimer: This image is taken from ANI.

India needs to maintain a steady growth rate of 7–8% to achieve the vision of “Viksit Bharat” by 2047, and this will largely depend on a revival in private investment and strong export performance, according to Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM).

Speaking on the sidelines of the FICCI India Innovative Crop Nutrition Conclave 2026, he said that reforms undertaken in recent years have already laid the foundation for this growth path. He stressed that achieving the target will require sustained investment, with the private sector playing a key role alongside export expansion. He also pointed to the importance of the government’s “Atmanirbhar Bharat” initiative.

Dev clarified that self-reliance does not mean reducing imports or moving away from global trade. Instead, it aims to strengthen domestic capabilities and improve product quality through increased competition, enabling higher export potential. He added that India’s demographic dividend and improvements in technology and skills will support long-term growth toward becoming a developed nation by 2047.

The government has also identified 100 products where domestic production can replace imports, as part of efforts to reduce dependency and improve resilience. Alongside this, initiatives to improve ease of doing business and living standards are intended to strengthen the economy against external shocks. He noted that contingency planning has improved since the COVID-19 period, helping the country better withstand global disruptions.

On agriculture, he highlighted a policy shift towards reducing reliance on chemical fertilisers and increasing adoption of organic and natural farming practices to ease subsidy pressures. He also pointed out that falling global urea prices—from about USD 900 to USD 450—will help reduce subsidy costs.

Regarding the macroeconomic outlook, he said India has sufficient pulse stocks to keep food inflation under control, though global risks such as geopolitical tensions in West Asia and El Niño conditions remain concerns. He said he broadly aligns with RBI projections of 6.6% growth and 5.1% inflation.
Disclaimer: This image is taken from ANI.

External Affairs Minister (EAM) S Jaishankar arrived in Mongolia on Monday for a two-day official visit aimed at strengthening the longstanding partnership between India and Mongolia. The visit, taking place from June 22 to 23, marks the first leg of his four-day diplomatic tour that will also include the Republic of Korea.

Upon his arrival in Mongolia, Jaishankar was welcomed by State Secretary Munktushig Ilkhanajav. Expressing his appreciation for the warm reception, the minister shared a message on X, stating that he looked forward to engaging in meaningful discussions that would help advance the special partnership between the two countries.

“Pleased to arrive in Mongolia today. Thank State Secretary Munktushig Ilkhanajav for the warm welcome. Look forward to fruitful engagements to advance our special partnership,” Jaishankar wrote. According to the Ministry of External Affairs (MEA), Jaishankar’s official visit to Mongolia and South Korea will run from June 22 to 25. During the tour, he is scheduled to hold high-level meetings with political leaders and foreign ministers of both nations to discuss bilateral cooperation and areas of mutual interest.

In Mongolia, Jaishankar will meet members of the country’s leadership and hold talks with Foreign Minister B Battsetseg. The discussions are expected to focus on further enhancing ties between the two countries across various sectors, including economic cooperation, cultural exchanges, and strategic engagement.

Following his Mongolia visit, Jaishankar will travel to the Republic of Korea on June 24 and 25. There, he is set to hold discussions with South Korean Foreign Minister Cho Hyun on bilateral relations and regional developments. The External Affairs Minister will also participate in the Jeju Forum for Peace and Prosperity, where he is scheduled to deliver the keynote address on June 25. The event is regarded as a significant platform for dialogue on peace, security, and international cooperation, bringing together policymakers and experts from around the world.
Disclaimer: This image is taken from X/@DrSJaishankar.

A decade after the Brexit referendum, the United Kingdom is again facing a leadership transition, with the departure of Prime Minister Keir Starmer set to bring the country its seventh prime minister in just over 10 years. This frequent turnover reflects the ongoing political instability linked to the long-term effects of the Brexit. As nominations open on 9 July and a new prime minister is expected by September, analysts are examining what this latest leadership crisis reveals about Brexit’s lasting impact on British politics and governance, including insights from political analyst Alexander Hilton of Skystamper.
Disclaimer: This podcast is taken from CNA.

Elon Musk has reportedly become the world’s first trillionaire, driven largely by SpaceX, whose massive IPO has pushed its valuation above $2 trillion. At the same time, huge investments in artificial intelligence are lifting other major tech companies like OpenAI and Anthropic, both of which are expected to go public with valuations nearing a trillion dollars. According to The Guardian’s US tech editor Blake Montgomery in conversation with Kai Wright, these IPOs mean that the global financial system is becoming increasingly tied to the success of AI—and potentially exposed to significant risk if it fails.

Disclaimer: This podcast is taken from The Guardian.

Singapore’s Ministry of Trade and Industry (MTI) has kept its GDP growth forecast at 2–4%, supported by stronger-than-anticipated economic performance in the first quarter. At the same time, core inflation eased more than expected in April. Economists caution that geopolitical uncertainties and weaker external demand continue to pose risks. Susan Ng and Hairianto Diman discuss the strength of Singapore’s economy and its outlook for the coming months with Jeff Ng from Sumitomo Mitsui Banking Corporation.

Disclaimer: This podcast is taken from CNA.

In “Culture Club,” Melanie Oliveiro explores the beauty product industry through a conversation with Joyce Tirindelli, a 20-something, third-generation CEO of the Italian skincare brand World of Beauty. Tirindelli shares how she was prepared for leadership and now oversees a portfolio of over 200 products that are vegan, Halal-certified, and environmentally friendly. She also discusses the brand’s expansion strategy in Southeast Asia, a region expected to become the world’s fourth-largest economy by 2030.
Disclaimer: This podcast is taken from CNA.