logo
India-U.K. Trade Deal: India Inc welcomes the free trade agreement

India-U.K. Trade Deal: India Inc welcomes the free trade agreement

The Hindu24-07-2025
India Inc on Thursday (July 24, 2025) hailed the India-UK free trade agreement.
This landmark deal paves the way for a new era of economic cooperation between two vibrant economies, R. Dinesh, Chairman, TVS Supply Chain Solutions, said.
As a company with a strong presence in both India and the U.K., we at TVS Supply Chain Solutions see this FTA as a strategic enabler, he said.
'It will help streamline trade flows, reduce operational friction, and accelerate our ability to deliver cost-effective, agile solutions to global customers. With our strong presence in the UK and India , the agreement further strengthens our position in a critical market while opening new doors for cross-border collaboration, investment, and innovation,' Mr. Dinesh said.
For TVS Motor Company, the agreement comes at a pivotal time as it prepares to launch a new line of Norton Motorcycles in the UK, following its strategic acquisition of the iconic British brand, Sudarshan Venu, Managing Director, TVS Motor Company, said.
'We are particularly excited given the launch of new Norton vehicles this year, which will benefit from the strengthening of trade links between India and the UK. It energises our global ambitions and strengthens our resolve to build world-class products and brands,' he said.
TVS Motor believes the India-UK FTA will create immense opportunities for Indian companies to expand their global footprint while showcasing the country's innovation and engineering excellence on a larger platform, Mr. Sudarshan Venu added.
The reactions from other industry leaders are below.
OmniActive Health Technologies
'The India–UK FTA is a welcome move. Our exports to the UK went up by 12.6% last year, and this deal gives us a chance to build on that growth. But it's not just about trade volumes—what stands out is the scope it opens up in healthcare. With regulatory barriers coming down, Indian healthcare companies will find it easier to operate in the UK, and that can lead to more affordable services and better collaboration between the two systems. That's a space worth watching. At the same time, we can't lose sight of the fact that FTAs only work well when businesses at home are strong,' said Mr. Sanjaya Mariwala, Executive Chairman and Managing Director, OmniActive Health Technologies in a release.
Choice International Ltd.
Arun Poddar, CEO at Choice International Ltd welcomed the 'historic deal' said would significantly improve market access for Indian companies and will boost bilateral trade by around $34 billion annually.
''The historic free trade agreement (FTA) signed between the UK and India will significantly improve market access for Indian companies and will boost bilateral trade by around $34 billion annually. This agreement will pave the way for duty-free access to 99% of Indian exports, particularly from labour-intensive sectors like textiles, marine products, leather, footwear, engineering goods, auto components, engines, and chemicals. Overall, this development will have a very positive impact on the country's economy and could provide a major boost to the manufacturing sector, especially to the MSME sector,' Mr. Poddar said.
A a pivotal milestone: Pharmaceuticals Export Promotion Council
'The India-UK Free Trade Agreement (FTA) marks a pivotal milestone in economic cooperation, particularly in the pharmaceutical sector. With India's pharmaceutical exports to the UK reaching $914 million in FY24, the agreement strengthens supply chains, enhances access to affordable medicines and drives foreign direct Investment (FDI). The partnership paves way for collaborations in bulk drug imports, CDMO and joint research, empowering India's competitive edge and promoting global partnerships,' Pharmaceuticals Export Promotion Council Chairman Namit Joshi said.
Hero FinCorp Ltd
'The India–UK FTA is more than a trade pact—it's a launchpad for India's entrepreneurs to tap global demand, scale faster, and lead with confidence. A proud moment in our journey to an Atmanirbhar Bharat.' – Mr. Abhimanyu Munjal, MD & CEO, Hero FinCorp Ltd
Deal marks a transformative moment in the global economic landscape: Mahindra Group
'The landmark trade agreement between India and the UK marks a transformative moment in the global economic landscape. It's not just a win for trade, but a blueprint for a modern, values-led partnership that puts innovation, sustainability, and inclusive growth at the heart of global collaboration.
At Mahindra, we believe deeply in the power of such cross-border partnerships to unlock economic potential, create high-quality jobs, and accelerate progress in future-facing sectors from green mobility and clean energy to digital technologies and advanced manufacturing.
The UK-India Vision 2035 aligns closely with our own strategic priorities building resilient supply chains, investing in frontier technologies, and fostering a just transition to a low-carbon economy. As Indian industry becomes increasingly global in its footprint and ambition, we look forward to contributing meaningfully to this next chapter of UK-India cooperation.
This deal is also a testament to the growing stature of India as a trusted partner and innovation powerhouse in the global order. We commend both governments for their bold leadership in charting a shared future rooted in prosperity, sustainability, and trust., said the statement from Anish Shah, Group CEO & MD, Mahindra Group.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India Inc files ECB intent worth $3.48 billion in June, shows RBI data
India Inc files ECB intent worth $3.48 billion in June, shows RBI data

Business Standard

time4 minutes ago

  • Business Standard

India Inc files ECB intent worth $3.48 billion in June, shows RBI data

In June 2025, Indian companies, including non-banking financial companies (NBFCs), filed proposals with the Reserve Bank of India (RBI) to raise $3.48 billion through External Commercial Borrowings (ECBs). Of this, $2.73 billion was through the automatic route and $750 million through the approval route, according to RBI data. Among the prominent firms filing intent in June were Mumbai International Airport Ltd, seeking $750 million to refinance an earlier ECB to be raised through the international capital market, and Tata Electronics Pvt Ltd, applying for a $400 million facility from a commercial bank for seven years to build a new project. Adani Airport Holdings Ltd, engaged in warehousing and support activities for transportation, applied for $150 million for on-lending and sub-lending activity, with a credit facility duration of 42 months. Agratas Energy Storage Solutions Pvt Ltd, a manufacturer of electrical equipment, is looking to raise $100 million from a commercial bank to import capital goods. State-owned power sector company NTPC Ltd filed intent through the approval route to raise $750 million for infrastructure development. It plans to tap the overseas branch of an Indian commercial bank for a long-term loan with a duration of 64 months. Among financial services firms, Muthoot Fincorp Ltd applied to raise $70 million for on-lending and sub-lending operations, while IIFL Home Finance Ltd is seeking $100 million from a multilateral agency for on-lending activities.

Lok Sabha passes Indian Ports Bill, 2025
Lok Sabha passes Indian Ports Bill, 2025

Mint

time4 minutes ago

  • Mint

Lok Sabha passes Indian Ports Bill, 2025

The Lok Sabha on Tuesday passed the Indian Ports Bill, 2025, by voice vote amid continued protests by opposition members of Parliament demanding a discussion on the revision of electoral rolls in Bihar. The bill proposes modernizing India's port governance, enhancing trade efficiency, and solidifying India's position as a global maritime leader. 'Replacing colonial-era regulations, the bill reflects Prime Minister Narendra Modi's vision of a self-reliant, world-class maritime sector,' said the Union minister of ports, shipping and waterways, Sarbananda Sonowal, who introduced the bill in the lower house. The bill replaces outdated provisions of the Indian Ports Act, 1908, with modern and contemporary regulations. It aims to simplify port procedures and digitalize operations to enhance ease of doing business (EoDB). The legislation also emphasizes sustainability, incorporating green initiatives, pollution control, and disaster management protocols for sustainable port development. Furthermore, it seeks to improve port competitiveness through transparent tariff policies and better investment frameworks, while ensuring uniform safety standards and planning across all Indian ports. It will reduce logistics costs by speeding up cargo movement and enhancing connectivity. It is also expected to generate significant employment opportunities in port operations, logistics, warehousing, and allied industries. Additionally, the bill outlines strict anti-pollution measures and eco-friendly port practices, contributing to a cleaner environment. Exporters and MSMEs will benefit from streamlined procedures and improved infrastructure, reducing bottlenecks and facilitating smoother operations. 'This bill marks a decisive step toward making India's ports globally competitive while safeguarding the environment and empowering coastal communities. It embodies the vision of 'ports for prosperity' and ensures our maritime sector remains future-ready,' said Sonowal. For ports themselves, the bill provides greater autonomy with accountability, allowing ports to set competitive tariffs within a transparent framework. It introduces integrated planning for long-term port development, ensuring cargo growth and improved hinterland connectivity. A boost to coastal shipping is also envisioned, with seamless integration with inland waterways and multimodal transport systems. The bill provides flexibility in funding, making clear provisions for public-private partnerships (PPPs) and foreign investment in port projects. The Maritime State Development Council (MSDC), comprising representatives from central and State governments, will coordinate national port development strategies. State maritime boards will have authority to effectively manage non-major ports, while dispute resolution committees will expedite the settlement of conflicts between ports, users, and service providers. 'The bill also aims to boost cooperative federalism as the MSDC is aimed at ironing out differences and laying down a smooth way forward for the holistic development of our ports. The bill also provides for the state maritime boards, which help to effectively manage non-major ports, allowing a comprehensive framework for port development," said Sonowal. "We are creating an ecosystem that will empower our ecosystem to spruce up the maritime prowess of Viksit Bharat, propelling India to become one of the top global maritime nations by 2047,' he added. In terms of sustainability and safety, the bill mandates waste reception and handling facilities at all ports. It also enforces stringent pollution prevention measures in line with international conventions like MARPOL and Ballast Water Management. Every port will require emergency preparedness plans for disasters and security threats, while promoting renewable energy and shore power systems will help reduce emissions and foster environmental sustainability.

Good news for Gautam Adani as he earns Rs 503015716000 in 1 day from..., behind Elon Musk by only....
Good news for Gautam Adani as he earns Rs 503015716000 in 1 day from..., behind Elon Musk by only....

India.com

time4 minutes ago

  • India.com

Good news for Gautam Adani as he earns Rs 503015716000 in 1 day from..., behind Elon Musk by only....

Gautam Adani- File image Gautam Adani net worth update: After several days of decline, the Indian stock market rebounded on Monday, with Adani Group Chairman Gautam Adani gaining the most. As a result of the market rebound, the net worth of Gautam Adani surged by $5.74 billion (Rs 5,03,01,57,16,000 in INR) to $79.7 billion, bringing him back into the world's top 20 richest list. Here are all the details you need to know about the recent increase in the wealth of Gautam Adani. How did Gautam Adani earn $5.74 billion in 1 day? As per media reports, Gautam Adani's wealth has risen by $5.74 billion this Monday (Rs 5,03,01,57,16,000 in INR) due to increase in price of shares. Talking about the Monday market surge, only Elon Musk saw higher gains, adding $6.69 billion to reach $378 billion, although his fortune has dropped by $54.5 billion in 2025. What does Bloomberg Billionaire Index say? In the Bloomberg Billionaire Index, Oracle founder Larry Ellison is second with $305 billion, followed by Mark Zuckerberg ($269 billion), Jeff Bezos ($243 billion), Larry Page ($180 billion), Steve Ballmer ($179 billion), Sergey Brin ($168 billion), Jensen Huang ($158 billion), Bernard Arnault ($151 billion), and Michael Dell ($141 billion). India and Asia's richest man, Mukesh Ambani, ranks 18th with a net worth of $99.5 billion. What Gautam Adani said on Indian economic power? India will be a USD 25 trillion economic 'power house' by 2050 with the global centre of gravity shifting towards it, Adani Group Chairman Gautam Adani said while addressing students at the Indian Institute of Management here recently. Gautam Adani on how India will become 25 trillion dollar powerhouse by 2050? Adani told the audience that their career timelines would align with India's most transformative decades. You will not be looking at a five trillion or ten trillion dollar economy but you will be looking at an India that will be a 25 trillion dollar powerhouse by 2050. The global centre of gravity will shift and it will be towards you and towards India,' he said. (With inputs from agencies)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store