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Economic Times
11-05-2025
- Business
- Economic Times
ETMarkets Smart Talk: Logistics, retail, green energy set to soar under India-UK FTA, says Charles Russell Speechlys' Kim Lalli
As the long-awaited India-UK Free Trade Agreement edges closer to finalisation, optimism is running high across key industries. Kim Lalli, Partner at international law firm Charles Russell Speechlys and head of its India Desk, calls the FTA a 'game-changer' that is poised to unlock vast opportunities for cross-border collaboration. In an exclusive interaction on ETMarkets Smart Talk segment, Lalli outlines how sectors like logistics, retail, and green energy are best positioned to benefit from reduced tariffs, simplified regulations, and enhanced market access. With 99% of India's exports set to become duty-free and increased mobility for professionals, the agreement promises to strengthen economic and strategic ties between two of the world's largest economies. Edited Excerpts –A) Reductions in tariffs across various sectors and a commitment to easing barriers to trade can only be beneficial for both countries – we foresee greater collaboration in various fields, including the retail, automotives, logistics, pharma and health sectors. A) It is most definitely a game-changer. India and the UK have for many years had a strong trading partnership. India is the second largest investor in the UK in terms of number of projects, a position that the nation has held for five consecutive years, and Indian companies such as Tata employ huge numbers of people in the UK (Tata itself employs around 8000). This FTA will give companies on both sides greater confidence in moving forward with investment and collaboration with each other. The UK has also been a significant investor in India over the years, and we expect greater investment in sectors such as technology, renewable energy, and India, a significant percentage of Indian exports to the UK will become duty-free – 99% according to the UK Government. This benefits a range of sectors and products, including apparel, textiles, leather goods and frozen shrimp. India's service exports are also likely to increase, benefitting sectors such as FTA eases some of the tax requirements for Indian workers, which will aid mobility of personnel working for Indian mobility will help companies on both sides of the fence to move faster in taking advantage of the opportunities now opened for them. Some of the tariff reductions are on a sliding scale so the benefit increases over time. A) Logistics, infrastructure, green energy and retail. There is always a significant amount of excitement and enthusiasm in these sectors and business and investors are more than ready to seize on new opportunities. A) Greater levels of trade will be facilitated for India, which in all likelihood will assist in making up shortfalls that may result from US tariffs. This is a big step in changing India's approach to global trade. A) There is already huge interest on the part of Western brands – we see this increasing as companies have greater confidence in the commitment made by both countries to open each other's markets more fully. A) As well as the immediate benefits of the FTA such as reductions on tariffs, another important aspect is what it says about the intentions of both and the UK are giving a strong signal to the market around how they view each other and want to continue working together in the future. That is is likely to give businesses, individuals and investors confidence in moving to the India market, and see such a move as less of a risk. A) This is a major step for both countries in strengthening their relationship. They are respectively numbers five and six in terms of the largest economies in the world (with some estimates even putting India above Japan at number four) and in times of geopolitical uncertainty, standing together on various issues will boost the impact of both countries' responses. The two countries have a lot in common, and businesses from each side have been successfully operating in each other's countries for decades. A) As mentioned, the FTA will give individuals, businesses and investors greater confidence and stability, and sends a clear signal to the market that the UK and India plan to continue developing their relationship for years to come. Wherever there is uncertainty and volatility, deals tend to be delayed or rethought. Conversely, with greater confidence and stability comes greater appetite for FTA certainly has the potential to have a positive effect on both inbound and outbound M&A activity. A) Yes, we believe it could and will. We see such brands already on Indian roads, even at a time when customs duties are substantial, so a lowering of duties will only increase the appetite for such brands. A) Having noted the demand for premium liquor in India on my frequent visits (and India's own growing offering in this regard), I think the demand will be stimulated. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
11-05-2025
- Business
- Time of India
ETMarkets Smart Talk: Logistics, retail, green energy set to soar under India-UK FTA, says Charles Russell Speechlys' Kim Lalli
Q) You described the India-UK FTA as a long-awaited and positive development—what specific changes do you foresee for businesses operating across both countries? Q) Can we say that this FTA is being described as a "game-changer" for India-UK trade. Can you elaborate on the immediate and long-term benefits this agreement holds for both countries, especially for India? Live Events Q) From your recent visits, which sectors in India do you believe are best poised to benefit from deeper India-UK collaboration? Q) With zero-duty access granted to 99% of India's exports, how will this affect India's position in global trade? What sectors do you see benefiting the most? Q) You mentioned the rise of Western brands entering India. How do you see the FTA accelerating this trend? Q) How do you interpret the FTA's potential to boost private capital mobility between India and the UK? Q) Given the geopolitical context, how crucial is this agreement for strengthening India-UK strategic and economic alliances? Q) Do you anticipate changes in inbound/outbound M&A activity as a result of this agreement? Q) The reduction in customs duties on premium vehicles. Could this drive meaningful demand for UK-based luxury auto brands in India? Q) How significant is the halving of the 150% import duty on Scotch and gin for the overall AlcoBev industry in India? Could it be a turning point for premium spirits in the market? (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel As the long-awaited India-UK Free Trade Agreement edges closer to finalisation, optimism is running high across key industries. Kim Lalli, Partner at international law firm Charles Russell Speechlys and head of its India Desk, calls the FTA a 'game-changer' that is poised to unlock vast opportunities for cross-border an exclusive interaction on ETMarkets Smart Talk segment, Lalli outlines how sectors like logistics retail , and green energy are best positioned to benefit from reduced tariffs, simplified regulations, and enhanced market 99% of India's exports set to become duty-free and increased mobility for professionals, the agreement promises to strengthen economic and strategic ties between two of the world's largest economies. Edited Excerpts –Reductions in tariffs across various sectors and a commitment to easing barriers to trade can only be beneficial for both countries – we foresee greater collaboration in various fields, including the retail, automotives, logistics, pharma and health is most definitely a game-changer. India and the UK have for many years had a strong trading partnership. India is the second largest investor in the UK in terms of number of projects, a position that the nation has held for five consecutive years, and Indian companies such as Tata employ huge numbers of people in the UK (Tata itself employs around 8000).This FTA will give companies on both sides greater confidence in moving forward with investment and collaboration with each UK has also been a significant investor in India over the years, and we expect greater investment in sectors such as technology, renewable energy, and India, a significant percentage of Indian exports to the UK will become duty-free – 99% according to the UK Government. This benefits a range of sectors and products, including apparel, textiles, leather goods and frozen shrimp. India's service exports are also likely to increase, benefitting sectors such as FTA eases some of the tax requirements for Indian workers, which will aid mobility of personnel working for Indian mobility will help companies on both sides of the fence to move faster in taking advantage of the opportunities now opened for them. Some of the tariff reductions are on a sliding scale so the benefit increases over infrastructure, green energy and retail. There is always a significant amount of excitement and enthusiasm in these sectors and business and investors are more than ready to seize on new levels of trade will be facilitated for India, which in all likelihood will assist in making up shortfalls that may result from US tariffs. This is a big step in changing India's approach to global is already huge interest on the part of Western brands – we see this increasing as companies have greater confidence in the commitment made by both countries to open each other's markets more well as the immediate benefits of the FTA such as reductions on tariffs, another important aspect is what it says about the intentions of both and the UK are giving a strong signal to the market around how they view each other and want to continue working together in the future. That is is likely to give businesses, individuals and investors confidence in moving to the India market, and see such a move as less of a is a major step for both countries in strengthening their relationship. They are respectively numbers five and six in terms of the largest economies in the world (with some estimates even putting India above Japan at number four) and in times of geopolitical uncertainty, standing together on various issues will boost the impact of both countries' two countries have a lot in common, and businesses from each side have been successfully operating in each other's countries for mentioned, the FTA will give individuals, businesses and investors greater confidence and stability, and sends a clear signal to the market that the UK and India plan to continue developing their relationship for years to there is uncertainty and volatility, deals tend to be delayed or rethought. Conversely, with greater confidence and stability comes greater appetite for FTA certainly has the potential to have a positive effect on both inbound and outbound M&A we believe it could and will. We see such brands already on Indian roads, even at a time when customs duties are substantial, so a lowering of duties will only increase the appetite for such noted the demand for premium liquor in India on my frequent visits (and India's own growing offering in this regard), I think the demand will be stimulated.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Telegraph
03-05-2025
- Business
- Telegraph
Wealthy Americans are fleeing Trump's chaos – and Britain's cashing in
Threats to the car industry, jobs lost and rising taxes – Donald Trump's chaotic first 100 days in office have hardly sparked cheerful headlines in Britain. However, one unexpected silver lining is emerging that could reverse a historical trend that has persisted since the Second World War. For decades, Britain's richest and most skilled have been lured to the US by high wages, prestigious institutions and the chance to do business in the world's biggest economy. But now Americans are nervously eyeing the exit amid growing concerns over their wealth, research funding and general uncertainty related to the Trump administration's policies. The UK is among the countries most likely to gain from America's loss, presenting a chance to boost the economy by mopping up disgruntled world-class scientists, investors and students who had been destined for Ivy League universities. Lawyers for the ultra-wealthy say they have been inundated with a deluge of inquiries from US clients since Trump's inauguration. 'The number of inquiries that come into our US team based in London has gone through the roof over the last three, four, five months,' says Ceri Vokes, a tax partner at Withers, a City law firm. 'There is definitely a desire to diversify away from the US. London is a natural place for them to come to because of the common language and similar culture.' Inquiries from US clients considering relocating to the UK have been three times higher so far in 2025 than the same period in previous years, according to Vokes. Trump effect Trump's trade war has triggered trillion-dollar stock market fluctuations and thrown the dollar's safe-haven status into question. The wealthiest are taking precautions so they can get out fast if the chaos escalates, Vokes says. 'We're seeing an increasing number of US clients looking to buy property here to have a foot in another jurisdiction and somewhere that they could move to,' she says. Kelvin Tanner, an immigration partner at City firm Charles Russell Speechlys, says inquiries from US millionaires and billionaires so far in 2025 have doubled from previous years. 'I'm dealing with more Americans moving than over the last few years or when President Trump was last in office. There was an increase following last year's election. This then accelerated after the first few months of Trump being in office,' he adds. 'We've had people that have a high profile and wanted to make sure they were set up in the UK, almost as a kind of insurance policy. We're seeing a range of backgrounds – people who work in the technology sector, financial services and so on.' There are several early signs of a rapid rise in Americans looking to the UK after the US election. Citizen applications from US nationals jumped 40pc to 1,700 in the final three months of last year compared with the same period in 2023. According to Knight Frank, the estate agency, the share of Americans purchasing luxury property in central London rose to 11.6pc at the end of 2024, making them the largest nationality and overtaking Chinese buyers. If more Americans take the plunge, it could very helpful indeed for beleaguered Chancellor Rachel Reeves, whose tax changes have prompted a string of high-profile UK exits. They include Richard Gnodde, Goldman Sachs' most senior banker outside the US, and Nassef Sawiris, Egypt's richest man. Renewed interest from Americans is helping to plug a gap left by the flight of non-doms, says Rosy Khalastchy, of luxury estate agents Beauchamp Estates. '[Some] people are leaving but there is a transition period going on. There are still people who value London and the services that are here, and there is turmoil in their country. We are seeing more Americans coming in,' she says. 'Horrendously stupid' attack While the wealthiest will be the most mobile, research suggests other strata of American society are also feeling increasingly uneasy under Trump. Figures from Study Portal suggest US interest in British degrees jumped 25pc in March compared with the same month a year earlier. Meanwhile, a survey of 600 US academics by scientific journal Nature found three in four were considering their future in the country, with many weighing up moves to Canada or the UK. It comes after the president has made an enemy of America's most highly regarded academic institutions, freezing federal funding for several top universities. He also threatened Harvard with restricting its ability to enrol foreign students and further funding cuts, demanding a ban on diversity, equity and inclusion practices and a crackdown on protests. 'A grant is at our discretion and [Harvard] are really not behaving well. So it's too bad,' Trump warned on Wednesday. Mass lay-offs and sweeping cuts to scientific research at top universities have also prompted warnings from academics that the president risks causing economic damage equivalent to a major recession. The UK would be in a unique position to benefit from a reverse US brain drain because of the shared language and prestigious universities, says Christian Dustmann, an economics professor at University College London. 'It is suicidal what the Trump administration is doing with one of their very biggest assets, and that is the excellence of research and the universities,' he says. 'To attack that in the way they are doing is just horrendously stupid. If those talents are moving away towards, for instance, the UK, this is a huge opportunity for us.' The competition for these scientists and researchers is already heating up, with countries across Europe quickly rolling out the red carpet in the form of top talent visas and recruitment funds for universities. An influx of top academics and a surge in interest from students looking for alternatives to Ivy League universities could help boost Britain's higher education sector and the wider economy, says Jamie Arrowsmith, from Universities UK International. But the cash-strapped sector may struggle to accommodate it amid redundancy drives and speculation that a crackdown on overseas student visas looms, he warns. 'If leading research talent wants to choose the UK, then we should absolutely welcome that. It will make a positive contribution to higher education, to the UK's research base and ultimately growth and prosperity,' Arrowsmith says. 'The big challenge we have to be completely honest is that the UK is not without its own challenges and uncertainties. Prospective students and potential researchers want certainty and stability.' Another difficulty, immigration lawyers warn, is that even very wealthy Americans may find it tricky to get a visa if they are business owners or investors, as opposed to workers. It is still too early to say how big and persistent a US brain drain will be. But America's misery may offer a golden opportunity to stagnating Britain – if Reeves chooses to seize it.
