India strengthens Global Leadership in Spice Standards at 8th Codex Committee (See 'Corp Brief') IBC - Speculative participants driven purely by profit motives can't be permitted to misuse insolvency & bankruptcy code, which is remedial framework conceived for revival and protection of companies: SC (See 'Legal Desk') CCI okays acquisition of Cloud4C Services by Capgemini SE (See 'Corp Brief') DTNBWED and UPBOCWWB join hands to empower Construction Workers through Skill Development (See 'Corp Brief') IBC - IBC has a rehabilitative intent; companies revived through a resolution plan cannot be arbitrarily excluded from government tenders: HC (See 'Legal Desk') Ministry of Labour joins hands with Zomato to strengthen Gig Economy (See 'Corp Brief') Give preference to 'Made in India' products': Chouhan (See 'Corp Brief') A&C - In large-scale infrastructure projects, quantification of actual loss resulting from time overruns is often impracticable, and law does not mandate proof of precise loss if parties have agreed to mechanism of reasonable compensation: HC (See 'Legal Desk') Vaishnaw announces Enhanced Technological Upgrades and New Training Initiatives for RPF (See 'Corp Brief') Ministry of Minority Affairs establishes Centres of Excellence to Promote Heritage and Classical Languages (See 'Corp Brief') Mentorship cum acceleration sessions are arranged for 18 Start-ups (See 'Corp Brief') Joshi to preside over World Standards Day 2025 Celebrations (See 'Corp Brief') A&C - Award granted by arbitral tribunal for interest can't be challenged, just because in agreement between parties, there is no stipulation for awarding interest: HC (See 'Legal Desk') DoPPW to conduct Nationwide Digital Life Certificate Campaign 4.0 (See 'Corp Brief') Kharif sowing area increases by 6.51 lakh hectares: Chouhan (See 'Corp Brief') PM GatiShakti marks 4 years with launch of transformative Initiatives: Goyal (See 'Corp Brief') PC Act - Economic offences require different approach when considering bail, especially where offence involves deep-rooted conspiracy, fraudulent documentation, and abuse of fiduciary positions: HC (See 'Legal Desk') ANRF Executive Council okays move for operationalization of RDI Fund (See 'Corp Brief') MoS participates in 'Recognition Ceremony of Forest Rangers' in Abu Dhabi (See 'Corp Brief') MoS holds interaction on governance innovations with representatives from 19 countries (See 'Corp Brief') Arbitration & Conciliation Act - provisions of Rule 11 of 2021 Rules & Section 18(3) of 2006 Act facilitate arbitration as a means of dispute resolution & merely adopting different routes does not render either process illegal or ultra vires: HC (See 'Legal Desk') Roadmap unveiled for development of 100 GW Nuclear Capacity by 2047 (See 'Corp Brief') CCL launches Special Cover Dedicated to Coal Warriors and Coal India's Legacy (See 'Corp Brief') PMLA - In money laundering case, modus operandi often involves circuitous and opaque ftnancial transactions, making direct evidence inherently difficult to obtain: HC (See 'Legal Desk') From Bharat to Belem: Delhi Declaration Sets Stage for COP30 (See 'Corp Brief') Competition Act - Appropriate application u/s 33 can be sought seeking interim orders in line with interim order previously passed by Competition Commission: HC (See 'Legal Desk') NeGD to join hands with Bharat Taxi (See 'Corp Brief') IPR - Threshold for invoking Sec 48(a) of Patents Act that grants patentee exclusive right to prevent third parties from selling or offering for sale patented product without patentee's consent, is merely 'offer for sale' and not necessarily actual sale: HC (See 'Legal Desk') India, UK commit £24 Million to Drive Research, Innovation, and Global Standards in Telecommunications (See 'Corp Brief') Misc - It is not mandatory for Appellate Court to impose condition for deposit of amount in dispute for grant of stay of execution under Order XLI Rule 5 of CPC: SC (See 'Legal Desk') Yadav chairs High-level Review Meeting on Air Pollution in Delhi NCR (See 'Corp Brief') PMLA - If no case was made out for quashing cognizance order or ED's complaint, appropriate course was to allow statutory process to reach its conclusion through mechanism provided under PMLA: SC (See 'Legal Desk') Union MoS Dr. Pemmasani Chandra Sekhar felicitates IMC award winners (See 'Corp Brief') SARFAESI - Apprehension of urgency or adverse impact on rights of parties due to delay in enforcement does not automatically warrant grant of interim relief or exemption from procedural mandates such as pre-institution mediation u/s 12A: HC (See 'Legal Desk')

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India, UK ready to deepen trade relations post Brexit: Goyal

Published: Jul 16, 2019

By TIOLCORPLAWS News Service

NEW DELHI, JULY 16, 2019: THE Union Minister of Commerce & Industry, Mr Piyush Goyal, yesterday stated that the Indian Government is looking for ideas from all sides to strengthen and to give confidence to international investors, with the best of technologies, to come to India and invest. Interacting with the Indian diaspora in London last night, he stated that the Indian community has made India proud by their contributions to the economies of India and the United Kingdom and have also strengthened relations between the two countries. During his hour long interaction with the Indian Diaspora the Commerce Minister explained the strategy and focus of the newly elected Government. During its first term, the stress was on meeting the basic necessities of common citizens like, housing, electricity, cooking gas and financial inclusion, which has made a huge impact and difference to the lives of the citizens down to the last mile.

Mr Goyal termed the India Day event, which he would address on July 15, evening, where think tanks and finance companies would come together, as very important, because he would be able to highlight the package of incentives for financial companies, announced by the Finance Minister, Ms Nirmala Sitharaman, in the Union Budget 2019-20. He stated that he would showcase India's financial sector, in particular, the Gujarat International Finance Tec-City near Gandhi Nagar in Gujarat.

Mr Goyal further said that the FTAs entered into by India in 2009-10 had not been good deals and some of them are causing agony which is why India is looking at the United States to put that baggage behind and move forward. He informed that he is meeting with leaders of the Government and bureaucracy, during his three-day visit to the United Kingdom, to understand in which direction and time frame the UK is looking at for the BREXIT to happen. India is also in discussions to take the next step for deeper engagement with the UK. It is important the process is fast tracked now so that both nations are ready to work together speedily once BREXIT comes into effect, he mentioned.

Regarding the ongoing RCEP negotiations, Mr Goyal said that India is working for a fair deal which protects the country's interests and does not allow unfair market access. From now no agreement or trade pact on commerce would be at the cost of Indian interests, the country's sovereign requirements and interests of the citizens, said Mr Goyal. He informed that the Ministry is now trying to speed up the entire process and streamline the patent office. There was a 7-year backlog in 2014. He informed that from now on all patent applications would be in the public domain and transparency would be maintained. In respect of IPR enforcement, Mr Goyal mentioned that India has a long way to go as the process itself is very slow at the moment. The entire framework around IPR has to be strengthened in order to give confidence to international investors, with best of technologies, to come to India and invest.

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