Latest news with #UK-IndiaFreeTradeAgreement
Hindustan Times
3 days ago
- Business
- Hindustan Times
Himachal: UK delegation visits Bhuttico handloom cooperative in Kullu
British deputy high commissioner Caroline Rowett visited the Bhuttico handloom cooperative in Kullu on Monday as part of her three-day visit to the region. During the visit, the UK delegation met Bhuttico's management and interacted with artisans engaged in the creation of traditional Himachali handloom products. Speaking on the textiles sector under the UK-India Free Trade Agreement (FTA), Rowett said, 'UK businesses and consumers will also have increased access to tariff-free imports from India, with tariffs being eliminated on 99% of Indian goods which could provide better choice, quality and affordability of a wide range of Indian products such as frozen shrimp, apparel and textiles.' India and the UK concluded negotiations for the FTA last month, marking a significant step in strengthening bilateral economic ties. Rowett added, 'The deal is expected to increase bilateral trade, worth £43 billion in year 2024, by £25.5 billion, UK GDP by £4.8 billion and wages by £2.2 billion each year in the long run.' The UK-India investment relationship currently supports over 6,00,000 jobs across both countries. As of 2024, there are over 950 Indian-owned companies in the UK and over 650 UK companies in India. On the timeline for the deal's implementation, she stated, 'We will now go through the final steps to sign this treaty and bring this deal into force as quickly as possible, whilst allowing for the necessary scrutiny, so it can deliver growth across the country.' As part of her Kullu-Manali visit, Rowett is also engaging with stakeholders from the tourism and hospitality sectors, including hoteliers, tour operators, and skiers, to explore collaboration opportunities.
Yahoo
7 days ago
- Business
- Yahoo
S.P. Apparels Ltd (BOM:540048) Q4 2025 Earnings Call Highlights: Strategic Expansion and ...
Release Date: May 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. The UK-India Free Trade Agreement provides a 10% duty advantage over China, enhancing India's appeal as a sourcing destination. S.P. Apparels Ltd (BOM:540048) achieved a significant year with the first full year of consolidation following the acquisition of in-brand panels. The company reached a utilization rate of 85% in FY25, up from 76% in FY24. Expansion plans include adding 2,000 machines in Sri Lanka and 1,000 machines in India, aiming for significant growth in capacity. The company reported a consolidated revenue growth of 35.9% year-on-year for the quarter. The retail division reported continuous losses due to unfunded cash losses. There was a temporary decrease in revenue due to customers holding excessive inventory. The company faces challenges in expanding to a two-shift operation due to workforce constraints. The working capital has increased significantly due to acquisitions, impacting liquidity. The company anticipates potential impacts from tariffs, which could affect margins in the near term. Q: What is the current capacity of machines at S.P. Apparels, and what are the expansion plans? A: As of March 31, the capacity is 4,950 machines. Including Young Brand Apparel (YDA), the total capacity is around 6,300 machines. The company plans to add 2,000 machines in Sri Lanka by March 2026 and another 1,000 machines in India, bringing the total to approximately 9,000 machines over the next 1.5 to 2 years. (Respondent: Unidentified_4) Q: Has S.P. Apparels commenced any business in Sri Lanka since the subsidiary's incorporation? A: Although the subsidiary was incorporated in October 2023, business commenced only in January 2025. Shipments worth 5 crores have been made from January to March 2025. For FY26, the company expects revenue of 200 crores from Sri Lanka. (Respondent: Unidentified_4) Q: What is the expected revenue potential from the expanded capacity by FY27? A: The company anticipates a revenue potential of approximately 2,000 crores by FY27, with contributions from expanded capacities in India and Sri Lanka. The Sri Lankan operations are expected to yield around 400 crores, and Young Brand Apparel is projected to contribute 400 crores. (Respondent: Unidentified_4) Q: How is the integration of Young Brand Apparel progressing, and what are the margin expectations? A: The integration of Young Brand Apparel has been successful, achieving a 15% margin. There is potential for further improvement in margins due to efficiency gains and product mix optimization. (Respondent: Unidentified_8) Q: What are the challenges faced in operating two shifts in factories, and is it feasible? A: Operating two shifts has been challenging due to difficulties in securing manpower for night shifts, especially since most workers are women who face restrictions on working late hours. As a result, the company plans to continue with a single shift operation. (Respondent: Unidentified_6) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
22-05-2025
- Business
- Economic Times
Unlocking the UK as a wealth gateway: What India's HNIs should know
As Indian wealth continues to expand globally, high-net-worth individuals (HNIs) are seeking jurisdictions that offer long-term security, diversified investment opportunities, and family legacy solutions. ADVERTISEMENT The United Kingdom, long regarded as a global financial and wealth management hub and a second home for many Indian HNIs, continues to attract Indian families looking for credible and structured platforms for international exposure. However, recent tax reforms and geopolitical shifts have reshaped the landscape, requiring investors to be more nuanced and well-advised in their approach. One of the most significant changes impacting global families is the recent UK's reform of its tax regime for non-domiciled April 6, 2025, the UK has replaced its long-standing 'non-dom' system with a new Foreign Income and Gains (FIG) this new framework, newly arrived UK residents will be exempted from UK tax on foreign income and gains for only four years, after which their worldwide income will become taxable—regardless of whether it is remitted to the UK. ADVERTISEMENT This is a sharp departure from the earlier remittance-based regime, where non-doms could defer UK taxation for up to 14 Indian families evaluating residency, investment migration, or business expansion to the UK, this change introduces new tax implications that must be weighed carefully. ADVERTISEMENT Despite the shift, the UK remains an important wealth gateway—strengthened by recent geopolitical and economic developments. Most notably, the UK-India Free Trade Agreement (FTA) was officially concluded on May 6, 2025, after nearly three years of negotiations. This landmark deal is expected to increase bilateral trade by £25.5 billion annually between the two countries. ADVERTISEMENT India will gain from tariff elimination on about 99% of the tariff lines covering almost 100% of the trade value offering huge opportunities for increase in the bilateral trade between India and the UK. While it will help raise the UK's GDP by £4.8 Indian HNIs and family businesses, the FTA paves the way for enhanced market access, cross-border investments, lifestyle mobility, and strategic partnerships. ADVERTISEMENT It also opens opportunities in sectors such as technology, healthcare, financial services, professional services and real estate—all of which have historically been preferred by Indian a regulatory and structuring perspective, India's evolving capital control regime further facilitates global wealth the Liberalised Remittance Scheme (LRS) allowing up to USD 250,000 per individual every financial year and updated Overseas Investment Laws, enabling Overseas Direct Investments (ODI) and Overseas Portfolio Investments (OPI) by Indian entities , Indian residents are now well-positioned to establish legitimate and tax-compliant global holdings whether for business or investments goals. The GIFT City, India's first International Financial Services Centre (IFSC) has emerged as a complementary hub—offering zero capital gains tax (for eligible investors), no stamp duty, and access to global markets through IFSC registered structures. It now acts as a regulatory bridge, enabling seamless investment into jurisdictions like the UK. As global wealth flows become more complex and interconnected, the UK continues to offer Indian HNIs a robust, opportunity-rich platform—albeit with new the right planning partner, Indian families can unlock these benefits with clarity, compliance, and strategic foresight.(The author is Managing Director – Wealth Planning & Family Solutions, LGT Wealth India) (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
22-05-2025
- Business
- Time of India
Unlocking the UK as a wealth gateway: What India's HNIs should know
The United Kingdom remains a key destination for wealthy Indians seeking global opportunities. Recent tax reforms and the UK-India Free Trade Agreement are reshaping investment strategies. The FTA is expected to boost bilateral trade significantly. India's evolving capital control regime and GIFT City further facilitate global wealth participation. Indian HNIs can leverage these developments with careful planning. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) As Indian wealth continues to expand globally, high-net-worth individuals (HNIs) are seeking jurisdictions that offer long-term security, diversified investment opportunities, and family legacy United Kingdom, long regarded as a global financial and wealth management hub and a second home for many Indian HNIs , continues to attract Indian families looking for credible and structured platforms for international recent tax reforms and geopolitical shifts have reshaped the landscape, requiring investors to be more nuanced and well-advised in their of the most significant changes impacting global families is the recent UK's reform of its tax regime for non-domiciled April 6, 2025, the UK has replaced its long-standing 'non-dom' system with a new Foreign Income and Gains (FIG) this new framework, newly arrived UK residents will be exempted from UK tax on foreign income and gains for only four years, after which their worldwide income will become taxable—regardless of whether it is remitted to the is a sharp departure from the earlier remittance-based regime, where non-doms could defer UK taxation for up to 14 Indian families evaluating residency, investment migration, or business expansion to the UK, this change introduces new tax implications that must be weighed the shift, the UK remains an important wealth gateway—strengthened by recent geopolitical and economic notably, the UK-India Free Trade Agreement FTA ) was officially concluded on May 6, 2025, after nearly three years of negotiations. This landmark deal is expected to increase bilateral trade by £25.5 billion annually between the two will gain from tariff elimination on about 99% of the tariff lines covering almost 100% of the trade value offering huge opportunities for increase in the bilateral trade between India and the UK. While it will help raise the UK's GDP by £4.8 Indian HNIs and family businesses, the FTA paves the way for enhanced market access, cross-border investments, lifestyle mobility, and strategic also opens opportunities in sectors such as technology, healthcare, financial services, professional services and real estate—all of which have historically been preferred by Indian a regulatory and structuring perspective, India's evolving capital control regime further facilitates global wealth the Liberalised Remittance Scheme (LRS) allowing up to USD 250,000 per individual every financial year and updated Overseas Investment Laws, enabling Overseas Direct Investments (ODI) and Overseas Portfolio Investments (OPI) by Indian entities , Indian residents are now well-positioned to establish legitimate and tax-compliant global holdings whether for business or investments GIFT City , India's first International Financial Services Centre (IFSC) has emerged as a complementary hub—offering zero capital gains tax (for eligible investors), no stamp duty, and access to global markets through IFSC registered structures. It now acts as a regulatory bridge, enabling seamless investment into jurisdictions like the global wealth flows become more complex and interconnected, the UK continues to offer Indian HNIs a robust, opportunity-rich platform—albeit with new the right planning partner, Indian families can unlock these benefits with clarity, compliance, and strategic foresight.(The author is Managing Director – Wealth Planning & Family Solutions, LGT Wealth India): Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Irish Examiner
14-05-2025
- Business
- Irish Examiner
Irish spirits sector 'uniquely exposed' if trade negotiations with US fail
Irish spirits remain "uniquely exposed" should no trade resolution between the EU and US be found. Calling for an immediate removal of all tariffs on EU and US spirits, the Irish Whiskey Association said domestic producers now face a 10% tariff on exports to the US, which is already costing thousands of euro every week. "This additional cost, coupled with a weakened dollar, is placing major pressure on the sector, and a swift resolution is required," the association said. "The immediate cost implications, together with the deepening trade uncertainty, is negatively impacting markets and business for our distillers and drinks manufacturers throughout the country." While trade deals with both China and the UK have been advanced, the EU is still struggling to make a breakthrough with the US despite several attempts at negotiations. In April, US President Donald Trump imposed a 10% baseline tariff on the EU, along with 25% levies on cars and metals. If the two sides fail to reach a deal by early July, a higher tariff of 20% will kick in as Mr Trump seeks to even out what he sees as a transatlantic trade deficit, which he blames on the EU. "A tariff-free environment has worked and will work best for the spirits sector," the Irish Whiskey Association added. "From the introduction of zero-for-zero tariffs in 1997 until 2018 with the steel/aluminium dispute, the value of the spirits sector on both sides of the Atlantic experienced a growth of 450%. "The spirits sector in both the USA and the EU remain interconnected, however this period of uncertainty and heightened trade tensions puts investments at risk. The US is the largest international market for Irish whiskey, with exports to the US totalling around €420m per year. Meanwhile, overall drinks exports from Ireland to the US total €865m annually. Ireland also remains the primary importer of US casks in the EU, with the casks subject to 25% tariffs should negotiations fail, the association warned. "All these developments come against the backdrop of the recent conclusion of the UK-India Free Trade Agreement, which ensures an immediate 50% reduction in tariffs for UK whiskies and spirits to India. This secures a more favourable trading environment for our direct competitors, placing EU products at a further, unique disadvantage."
