Historic India-UK Free Trade Agreement Boosts Leather, Textiles, and Pharma Stocks

In a groundbreaking development, India and the United Kingdom have signed a momentous free trade agreement that has caught the attention of global markets.

The landmark deal, announced just before the US moratorium on higher tariffs ends, aims to double the USD 56 billion trade volume between these major economies by 2030. Stocks in sectors like leather, textiles, and pharmaceuticals surged on Friday morning, reflecting investor confidence. Mirza International and Superhouse Ltd topped the gainers' list, with significant jumps in their share prices.

According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd, this agreement marks India's first comprehensive trade deal with a developed nation. It projects India 'as a nation committed to free trade', increasing the likelihood of future fair-trade deals with other countries, including the US. The industries expected to benefit most include textiles, leather, and pharmaceuticals, ensuring them a prominent spot on the market radar.

(With inputs from agencies.)