Latest news with #IndiaFreeTradeAgreement
Fibre2Fashion
4 days ago
- Business
- Fibre2Fashion
Business leaders mark UKâIndia FTA as historic step forward
Business leaders have hailed the signing of the UK–India Free Trade Agreement as a 'historic milestone' poised to unlock £4.8 billion (~$6.46 billion) in economic growth. The landmark deal was officially signed by UK Business and Trade Secretary Jonathan Reynolds and India's Commerce and Industry Minister Piyush Goyal, marking a significant deepening of bilateral ties between two of the world's fastest-growing economies. Welcomed across key sectors, the deal promises to slash trade barriers and strengthen long-term commercial collaboration, Department for Business and Trade and Jonathan Reynolds MP, said in a release. Business leaders have hailed the UKâ€'India Free Trade Agreement as a £4.8 billion (~$6.46 billion) boost to growth, slashing trade barriers and deepening ties. CBI's Rain Newton-Smith called it a strong pro-trade signal, while John Smedley's Bill Leach said the FTA would expand access to UK luxury knitwear for India's fast-growing premium market. 'In an era of rising protectionism, today's (July 24, 2025) announcement sends a powerful signal that the UK is open for business and remains resolute in its commitment to free and fair trade. The CBI looks forward to working closely alongside the Confederation of Indian Industry to turn ambition into action and negotiation into real-world impact. Ensuring this agreement delivers tangible benefits for businesses on both sides will be critical to meeting the UK's growth ambitions,' said Rain Newton-Smith, CEO, CBI. From the luxury retail sector, Bill Leach, global sales director at heritage knitwear brand John Smedley Ltd, said the company looks forward to expanding its footprint in India, one of the world's fastest-growing luxury markets. 'John Smedley knitwear is already sold in over 50 countries around the world, and now that the FTA has been signed, we shall very much look forward to ensuring that an ever-increasing number of discerning luxury consumers in India will enjoy greater access to The World's Finest Knitwear,' Leach said. Fibre2Fashion News Desk (HU)
ITV News
5 days ago
- Business
- ITV News
'Transformational milestone': Indian industries welcome free trade agreement with UK
The signing of the UK–India Free Trade Agreement (FTA) marks a major moment in Britain's post-Brexit trade strategy and signals a deepening partnership with one of the world's fastest-growing economies. Finalised after years of negotiation, the deal has drawn strong support from Indian policymakers and industry leaders who see it as a springboard for greater trade, investment, and strategic cooperation. Prime Minister Narendra Modi called the agreement 'a blueprint for shared prosperity", adding that it would not only improve market access for Indian goods such as textiles, footwear, jewellery, seafood and engineering products but also unlock new opportunities for young people and in other areas including agriculture, food processing and small business. India's top business body, the Confederation of Indian Industry, hailed the deal a 'transformational milestone'. Industry leaders said the FTA would enhance India's global competitiveness while making the UK a stronger partner in innovation, digital trade, and clean technology. Gaitri Issar Kumar, former Indian High Commissioner to the UK, who helped shape early phases of the deal, told ITV News the FTA had remained a top-level priority since 2020. 'The negotiations were personally monitored by our Commerce Minister and successive UK Trade Secretaries, with clear targets and timelines," she said. "That, to my mind, contributed greatly to the successful outcome.' She added that consultations with Indian industry leaders ensured that key interests were protected and practical solutions found. Sunil Bharti Mittal, Chairman of Bharti Enterprises and Co-Chair of the India–UK CEO Forum, described the agreement as 'modern and forward-looking', saying it would 'stimulate innovation, ease market access, and foster investment' across sectors. While optimism runs high, another former Indian envoy to the UK, Ruchi Ghanashyam, offered a note of caution. 'Both sides have used terms like 'historic' and 'landmark' to describe this agreement," she said. "But for the FTA to reach the desired goal, businesses on both sides will need to examine the possibilities emerging out of the agreement and follow up. "Implementation will really be the key.' Analysts estimate the FTA could increase bilateral trade by up to US $34 billion annually, with particular benefits for sectors such as textiles, marine exports, agriculture, engineering goods, and processed food. One of the agreement's standout features is its social security clause, which will allow Indian professionals working in the UK to continue contributing to India's pension system for up to three years - addressing a long-pending request from Indian trade bodies. Currently, over 970 Indian companies operate in the UK, employing more than 1.1 million people and contributing roughly £1.17 billion annually in taxes. The two countries aim to double trade to $120 billion by 2030. In a recent column in The Indian Express, strategic affairs analyst Dr. C. Raja Mohan wrote that the FTA gives both countries a chance to build 'a pragmatic, forward-looking partnership' amid global volatility. 'With an assertive China and an unpredictable United States, deeper ties between India and the UK can serve as a stabilising force,' he noted. 'This is not just a trade deal, but a timely geopolitical recalibration grounded in trust, ambition, and shared democratic values.' As the UK and India look beyond the signing ceremony, the spotlight now shifts to execution - and to ensuring the agreement delivers on its promise of shared growth and mutual benefit.
Mint
22-07-2025
- Business
- Mint
Nifty Outlook: Strong fundamentals could drive markets higher in 2025; Nifty50 eyes 27,500
India's equity markets are expected to maintain their resilience in the second half of 2025, with the Nifty50 likely to trade within a range of 26,300 to 27,500 by the end of the year, according to smallcase managers. This forecast is anchored in strong domestic macroeconomic fundamentals, supportive monetary policy outlook, and continued policy-led momentum in key sectors. The Nifty50 has already rebounded from its March 2025 lows. smallcase managers expect resistance near the 26,300 level, but if the index breaks past this mark, it may head toward 27,500 or higher in the coming months, driven by robust earnings and liquidity. The market trajectory will be influenced by several macro and geopolitical developments. smallcase managers believe that clarity on U.S. trade tariff policies, resolution of conflicts in the Indo-Pacific and Middle East, and the finalisation of bilateral trade agreements like the UK–India Free Trade Agreement (FTA) could act as key catalysts. These factors have the potential to unlock export opportunities, particularly in pharmaceuticals, engineering, and textile sectors. However, the outlook for U.S. inflation remains a critical watchpoint. Though currently subdued, inflationary pressures could rise if supply chains are disrupted due to trade protectionism. If global supply stabilises and trade deals are concluded swiftly, the U.S. Federal Reserve could begin cutting interest rates, improving global liquidity conditions and spurring foreign inflows into Indian markets. While the Fed has maintained its policy rates so far in 2025, citing persistent inflation and employment challenges, the European Central Bank (ECB) has already trimmed rates by 100 basis points. This could pave the way for the Reserve Bank of India (RBI) to consider similar rate cuts, which would further support domestic consumption and market sentiment. Dr. Vikas Gupta, CEO of Omniscience Capital, believes rate cuts and stable monsoons could fuel household consumption and GDP growth. He sees markets reverting to their five-year average price-to-earnings (P/E) ratio of 25, or even exceeding it, if earnings momentum sustains. Meanwhile, Robin Arya, Founder of GoalFi, highlighted the expiry of the U.S. tariff pause as a near-term trigger. If trade deals fail to materialise, Indian equities could witness volatility, he warned. The first half of the year was marked by global uncertainty. Delays in U.S. Fed rate cuts, rising crude prices due to Red Sea tensions, and a flare-up at the India-Pakistan LoC triggered foreign investor outflows. Indian equity markets corrected in February and March 2025, which smallcase managers view as a healthy pause after the sharp rally of 2023–24. Despite these headwinds, Indian inflation stayed within the RBI's 4–5% target. The central bank maintained its repo rate at 6.50%, prioritising macroeconomic stability. According to Axis Capital, the primary trend in Nifty remains bullish, with a consistent pattern of higher tops and bottoms. The index is currently trading above its 20-, 50-, 100-, and 200-day moving averages, reinforcing near-term bullish sentiment. A bullish candle on the monthly chart suggests short covering at lower levels. The weekly RSI is in positive territory, indicating rising strength, it stated. Axis expects the index to trade positively, with a short-term range of 26,100 to 24,500. Any dip toward the lower end of this band is seen as a buying opportunity. It recommends a buy-on-dips strategy, noting that any breach below 25,200 could prompt profit booking down to 24,500. However, the broader market structure remains strong, with potential sectoral rotation playing a key role. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
