Page 38 - ITLN May-June 2025

News

India and the UK target to double trade by 2030 with FTA

rime Minister of India The FTA takes place in
PNarendra Modi and the backdrop of growing
Prime Minister of the economic ties between India
United Kingdom Keir and the UK as exemplified
Starmer, on May 6, 2025, in the bilateral trade of
announced the conclusion about $60 billion, which is
of the India–UK Free Trade projected to double by 2030.
Agreement (FTA). Prime Minister Modi stated
“This forward-looking in his social media post on
Agreement is aligned X (formerly Twitter), “In a
with India’s vision of historic milestone, India
Viksit Bharat 2047 and and the UK have successfully
complements the growth concluded an ambitious
aspirations of both and mutually beneficial
countries,” reads the Free Trade Agreement,
Ministry of Commerce & along with a Double
Industry release. Contribution Convention.”

UAE’s deputy PM inaugurates DP
World’s Nhava Sheva business park Adani Ports FY2025 net

heikh Hamdan bin and temperature-controlled profit crosses ₹11,000 crore
SMohammed bin Rashid Al spaces, catering to diverse
Maktoum, Crown Prince of industry needs. "As part of dani Ports and Special
Dubai, Deputy Prime Minister, DP World’s global network of AEconomic Zone
and Minister of Defence of the 12 Free Trade Warehousing (APSEZ) reported a net
UAE, inaugurated DP World's Zones (FTWZs)—including the profit of ₹11,061 crore
Free Trade Warehousing Zone Integrated Chennai Business for the financial
(FTWZ) – the Nhava Sheva Park in Tamil Nadu and the year 2024-25, an
Business Park (NSBP) – in Cochin Economic Zone in increase of 37
Mumbai in April 2025. Kochi—the Nhava Sheva percent, driven by
The Nhava Sheva Business Business Park enhances growth across ports,
Park near Mumbai offers 1 India-UAE trade by reducing logistics & marine
million sq. ft. of warehousing costs, improving efficiency, operations. Revenue
space, with another one and boosting supply chain increased 16 percent
million in the planning competitiveness," reads to ₹31,079 crore with cargo
stage. It offers specialized the release. handled increasing seven percent to 450
million tonnes, says an official release.
"Mundra became the first port in India to
cross 200 million tonnes in a single year."
APSEZ reported multiple achievements in
FY2025: "Completed Gopalpur acquisition,
commenced Vizhinjam port, commenced
Colombo port, board approved acquisition
of 50 tonnes per annum NQXT Australia,
commenced O&M operations at Kolkata,
won concession agreement to develop Berth
No.13 at Deendayal Port and acquired Astro
Offshore." APSEZ is expecting revenue to be
between Rs 36,000-38,000 crore in FY2026 with
(L-R) Dnyaneshwar Bhalchandra Patil of SEEPZ, Rizwan Soomar of DP World,
Unmesh Sharad Wagh of JNPA, Crown Prince of Dubai Sheikh Hamdan bin EBITDA seen around Rs 21,000-22,000 crore.
Mohammed bin Rashid Al Maktoum and Sultan Ahmed bin Sulayem of DP World
36
36
www
May - June 2025y - June 2025
Ma www.itln.in.itln.in