India-uk fta deal impact: The free trade agreement (FTA) has been agreed after a thorough talks of 14 rounds between India and Britain in about three years. It is considered to be India’s most overall and modern trade agreement till date. The government hopes that bilateral trade can reach a level of $ 120 billion by 2030.
According to the expert, the agreement will bring special opportunities for technology, manufacturing, pharma, auto and service sector companies that have strong presence in Britain.
1. IT and Professional Services
IT sector will benefit from increasing mobile and visa access of Indian professionals:
- Tcs
- Infosys
- Tech mahindra
- Hcl tech
- Wipro
2. Pharma and Healthcare
The approval process of generic drugs in Britain will benefit in export to pharma companies:
- Dr. Reddy’s Labs
- Cipla
- Sun pharma
- Lupin
- Aurobindo pharma
3. Auto and Auto Components
Tariff exemption may increase the share of Indian companies in the UK supply chain. This can benefit these companies:
- Bharat forge
- MOTERSON SUMI
- Bosch india
- Endurance Technologies
- Sundram fasteners
4. Industrial Engineering
The participation of India’s engineering companies may also increase in the UK factories and infrastructure projects. Some Indian companies can benefit greatly:
- L&T
- Cummins India
- Thermax
- Greaves cotton
- Abb india
5. Textile and Garment
Indian textile companies will get a competitive lead due to the reduction of import duty on Britain’s clothing. This can benefit these companies:
- Vardhman Textiles
- Kpr Mill
- Welspun india
- Gokaldas expenses
- Raymond
- Page Industries (Innerwear Segment)
6. James and Jewelery
Given the demand for diamond and gold jewelery in Britain, these companies can be in profit condition:
- Titan (Tanishq)
- Vaibhav Global
- Rajesh experts
- Kalyan jewellers
7. Leather and footwear
These brands can get an edge due to easy access to high-end British market:
- Relaxo
- Bata india
- Mirza International (Red Tape)
- Liberty shoes
8. Agri and Packaged Foods
These companies can make profit due to tariff relief to products like tea, spices and ready-to-eat foods:
- Tata Consumer Products (Tata Tea, Tetley UK)
- Lt Foods (Daawat)
- KRBL (India Gate)
- Hindustan Foods
- Nestle India (indirect benefits)
‘Big opportunity for TVS Motor’
TVS Motor Company has termed FTA as historic, saying that the company will get the benefit of this in the launch of the British brand Norton. The company’s MD Sudarshan Venu said, “The agreement will give India’s industries a chance to expand rapidly in global markets.”
Bharat Forge Reaction
Amit Kalyani, vice chairman of Bharat Forge, said, “India’s talk was decisively heard in the agreement, especially on tariffs and non-tariff barriers. It is a sign of India’s growing global confidence.”
Also read: India-UK FTA: Free Trade Agreement between India-Britain, know what will be its effect?
Disclaimer: Here information provided is being given only for information. It is necessary to mention here that the investment market in the market is subject to risks. Always consult experts before investing money as an investor. There is never advice to anyone to invest money on behalf of Moneycontrol.