Jupiter’s Indian Equities Manager Avinash Vazirani has commented on the significance of a free trade deal agreement between the UK and India.
“Jupiter Asset Management welcomes the agreed landmark trade deal between the UK and India. When signed, the deal will represent a major step forward in strengthening the economic and strategic partnership between the two countries, which is based on deep trust, shared values and mutual ambitions.
“We congratulate the two governments on this substantial achievement following the relaunch of negotiations just two months ago and amid increasing macroeconomic and financial uncertainty driven by the imposition of tariffs.
“The deal has the potential to reduce barriers to trade and investment, promote sustainability and innovation and encourage closer cooperation across industries including technology, manufacturing, services, education and healthcare. With India being one of the world’s fastest growing economies, and the UK an acknowledged global leader in innovation and services, this agreement is expected to deliver benefits to businesses of all sizes.
“Total trade between the UK and India was £42.6 billion in the four quarters to the end of Q4 2024, a year-on-year increase of 8.3% or £3.3 billion in current prices.[i] This has almost doubled from before the pandemic – in 2019, UK-India trade was worth only £24.1 billion.[ii]
“The International Monetary Fund (IMF) predicts India will soon surpass Japan [iii] as the world’s fourth largest economy and edge out Germany for the number three spot by 2027.”
Avinash Vazirani is manager of Jupiter Asset Management’s Indian Equities Strategy and has managed India-dedicated funds since 1995. He is a Non-Executive Director of the UK India Business Council and former Chair and Trustee of Pratham UK, a charity focused on children’s education in India.
