Boris Johnson formally takes charge as Britain's new PM
London, Jul 24: Boris Johnson officially became Britain's new Prime Minister on Wednesday and promised to leave the European Union on October 31 "no ifs, no buts" under a "new deal" with the 28-member economic bloc.
The 55-year-old former foreign secretary and London Mayor laid out his vision as Prime Minister in his first speech on the steps of Downing Street after a meeting with Queen Elizabeth II at Buckingham Palace, during which the 93-year-old monarch formally invited him to form a government after accepting Theresa May's resignation a little earlier.
"We will restore trust in our democracy and we are going to fulfil the repeated promises of Parliament to the people and come out of the EU on October 31, no ifs or buts," Johnson said, adding that while he does have 99 days to that deadline, the country has had enough of waiting and the time to act on Brexit is right away.
"Brexit was a fundamental decision by the British people. We must now respect that decision and create a new partnership with our European friends The work begins immediately behind that black door and I take personal responsibility of the change I want to see. Never mind the backstop, the buck stops here," the prime minister said just before he went into that iconic black No. 10 door of Downing Street, the British PM's office.
However, mindful of not just focussing on Brexit at this "extraordinary moment in history", he laid out a range of other promises around 20,000 additional police to make Britain's streets safer, introducing crucial social care and education reforms as well as begin work on free trade deals around the world.
"It is time we look not at the risks [of Brexit] but opportunities that lie before us. Let's start now on those free trade deals that lift billions out of poverty," he said.
Johnson, who has in the past described himself as a son-in-law of India by virtue of his now estranged wife Marina Wheeler's Indian mother - Dip Kaur, has stressed that the UK's relationship with India must run deeper than just trade.
In reference to India-UK relations, Johnson is on the record saying he wants to pursue a new trade deal and is expected to build on his self-confessed "personal relationship" with Prime Minister Narendra Modi to deliver a "truly special" bilateral relationship.
"The sooner we leave the EU and take back control of our trade policy, the sooner we can strike a new trade deal with India that will deliver new jobs, growth and prosperity for both our countries. Securing this new and improved trading relationship with our friends in India will be a priority for me," he said, during the course of a month-long leadership contest.
Johnson becomes the 14th Prime Minister to be appointed by Queen Elizabeth II, the 55th to hold the post of British PM and the third in fairly quick succession since Britain voted to leave the EU in June 2016 following on from David Cameron and Theresa May.
May, who was forced to resign amid a mounting rebellion from within her party over her Brexit strategy that failed to clear the Parliament votes threshold three times, had been functioning as a caretaker Prime Minister during the course of the Tory leadership.
She addressed her final Prime Minister's Questions in the House of Commons on Wednesday and then made a farewell speech on the steps of Downing Street before being driven to Buckingham Palace to formally hand in her resignation to the Queen. It is during this meeting that May would have indicated to the Queen who commands the requisite support to form the next government, following which Johnson was driven to the palace for his private audience with the Queen.
In some drama on his way to the palace, Johnson's cavalcade was blocked by Greenpeace protestors wanting to hand over a climate change petition to the new Prime Minister. The group that formed a human chain blockage were quickly moved out of the way by security officials.
As the face of hard Brexit in the ruling Conservative Party, Johnson has pledged to get Britain out of the EU within the deadline of October 31 with or without a deal. The prospect will prove divisive as the Opposition Labour Party and pro-EU Lib Dems have already voiced plans to bring down his government if he attempts a drastic no-deal exit from the EU.
Labour leader Jeremy Corbyn has demanded that Johnson call a General Election and promised to table a motion of no confidence in him when it is appropriate to do so .
MPs from within Johnson's own party remain vehemently opposed to a no-deal Brexit, with Chancellor Philip Hammond, justice secretary David Gauke and international development secretary Rory Stewart among some of the Cabinet members who have already declared their defiance by refusing to serve in his Cabinet.
Johnson is expected to spend his first few hours at No. 10 Downing Street finalising the top jobs in his Cabinet, with Indian-origin MP Priti Patel widely tipped to be back in the frontline after she had been forced to resign from May's Cabinet as international development secretary in 2017.
The 47-year-old ardent Brexiteer declined to speculate over Johnson's plans but said that she was confident the prime minister has plans for a diverse Cabinet, given his track record of deploying a diverse team as the Mayor of London.
Fellow Brexiteer Rishi Sunak, the son-in-law of Infosys co-founder Narayana Murthy, and housing minister Alok Sharma are also in line for frontline jobs in what Indian-origin peer Lord Jitesh Gadhia has hailed as the most diverse Cabinet in British history.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Iran unrest hits basmati rice exports, prices fall sharply as payment delays mount: Industry body
New Delhi (PTI): Civil unrest in Iran has started impacting India's basmati rice exports to the country, leading to a sharp fall in domestic prices, as exporters face payment delays and mounting uncertainties, an industry body said on Tuesday.
The Indian Rice Exporters Federation (IREF) urged exporters to reassess risks on Iranian contracts and adopt secured payment mechanisms, warning against over-leveraging inventories meant for the Iranian market.
India exported USD 468.10 million worth of basmati rice to Iran during April-November of 2025-26 fiscal, totalling 5.99 lakh tonnes, trade data showed.
Iran is India's top basmati rice export destination, but the current financial year has seen growing stress on order flows, payment cycles, and shipment schedules due to the prevailing instability.
The impact is now clearly visible in domestic mandis. Over the past week alone, prices of key basmati varieties have registered a steep decline, reflecting buyer hesitation, delayed contracts and heightened risk perception among exporters.
The domestic price of basmati rice variety 1121 has come down to Rs 80 per kg from Rs 85 per kg last week, while varieties 1509 and 1718 declined to Rs 65 per kg from Rs 70 per kg.
ALSO READ: Woman’s video of crossing busy Bengaluru road goes viral, calls it "negotiating with destiny"
"Iran has historically been a pillar market for Indian basmati. However, the current internal turmoil has disrupted trade channels, slowed payments and dented buyer confidence," IREF National President Prem Garg said in a statement.
He said exporters must exercise heightened caution, particularly with respect to credit exposure and shipment timelines.
Importers have conveyed their inability to honour existing commitments and remit payments to India, creating uncertainty for exporters, the federation said.
IREF has issued an advisory and appealed to stakeholders to diversify into alternative markets across West Asia, Africa and Europe to cushion any prolonged slowdown in Iran-bound shipments.
"We are not sounding an alarm, but urging prudence. In periods of geopolitical and internal instability, trade is often the first casualty. A calibrated approach is essential to protect both exporters and farmers," Garg noted.
US Tariff Concerns
The federation also addressed concerns over the recent remarks by US President Donald Trump, indicating that countries continuing trade with Iran may face a 25 per cent tariff.
IREF clarified that Indian rice exports to the US are already subject to a 50 per cent tariff, up from 10 per cent earlier.
Despite this, Indian rice exports to the US have remained resilient. India exported 2,40,518 tonnes of Basmati and non-Basmati rice to the US during April-November 2025-26, compared to 2,35,554 tonnes in the entire 2024-25 fiscal.
The US is the 10th largest market for Indian rice globally and the fourth largest for Basmat rice.
"There is limited clarity on whether the proposed 25 per cent tariff would be levied over and above the existing 50 per cent duty," the federation noted, adding that it does not foresee a significant decline in exports even if tariffs rise further, given the unique position of Indian Basmati in global markets.
However, IREF expressed greater concern over developments in Iran, where disruptions in local markets have affected trade settlements. Importers have conveyed their inability to honour commitments and remit payments to India, creating heightened uncertainty.
While similar crises have occurred in the past, the trajectory of the current situation remains unclear and is expected to cause further disturbances in prices, liquidity, and trade sentiment in the weeks ahead, the federation added.
