NEW DELHI: Anant Goenka, President, FICCI, said,

“We thank Prime Minister Narendra Modi and President Donald Trump for the trade deal that marks a significant reset in India–US economic ties. The reduction of reciprocal tariffs on Indian goods to 18 per cent — following months of negotiation by the Commerce and Industry Minister and his team — will materially improve the competitiveness of Indian exports in the world’s largest import market. With sectors such as apparel, leather, gems and jewellery, and marine products poised to benefit, this agreement has the potential to strengthen business confidence and deepen bilateral economic engagement. If implemented effectively, it can provide a meaningful boost to India’s export growth trajectory, broaden market access, and underscore the strategic importance of sustained cooperation between two of the world’s largest democracies.”

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MUMBAI: World Trade Center Mumbai warmly welcomes the landmark conclusion of the long-awaited India–European Union Free Trade Agreement (FTA) announced at the 16th India–EU Summit. The agreement, hailed by leaders on both sides as the “mother of all deals”, marks the conclusion of nearly two decades of negotiations and establishes one of the world’s largest trade partnerships, connecting markets of nearly two billion people and representing close to one-quarter of global GDP and one-third of global trade.

In his reaction to the announcement, Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries (AlAI), stated, “The finalisation of India-EU trade negotiations marked a historical movement in the global markets. This agreement between India and the European Union has the potential to reshape global trade flows, strengthen supply chains, and unlock greater opportunities for MSMEs, start-ups, and large enterprises on both sides.”

Dr. Kalantri further said, “With over 99% of Indian exports set to gain preferential access to the European Union market, this will unlock significant growth opportunities. Sectors that create ample job opportunities, like textiles, leather, marine products, wines, gems, and jewellery, will also get a boost. This agreement is a win-win as Indian consumers will get quality European products at lower prices and exporters will be able to enter the European markets”.

“In addition, the maritime partnership will deepen cooperation in maritime security, resilient supply chains, sustainability, and digital trade, thereby strengthening the overall economic engagement between India and the European Union. This will secure our maritime borders from common threats, reduce the cost of logistics, making cargo movement cheaper and environmentally friendly,” stressed Dr. Kalantri.

 “India’s large trade capacity, demographic dividend, manufacturing scale, and digital innovation, combined with Europe’s price-insensitive markets, technological leadership, sustainability frameworks, and advanced manufacturing strengths, create a significant advantage for both economies. This deeper India–EU engagement, especially amid geopolitical uncertainties, sends a strong signal in favour of rules-based trade, strategic diversification, and sustainable growth, while setting global benchmarks in green trade, digital transformation, and inclusive development.”

“With India aspiring to become a USD 30 trillion economy by 2047 and the European Union seeking deeper engagement with the Indo-Pacific, this agreement will serve as a cornerstone of a new global trade architecture, one that is resilient, sustainable, and future-ready,” Dr. Kalantri said.

Prime Minister Narendra Modi described the pact as the biggest free trade agreement in India’s history, underscoring its potential to deepen economic ties. European Commission President H.E. Ms. Ursula von der Leyen and European Council President H.E. Mr. António Luís Santos da Costa also welcomed the breakthrough, signalling strengthened strategic engagement between India and the EU.

WTC Mumbai looks forward to the outcomes of the India-EU Summit and remains committed to supporting initiatives that strengthen bilateral trade, investment, and economic cooperation between India and Europe.

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The collaboration, established under the guidance of the Reserve Bank of India (RBI) and the Central Bank of Bahrain (CBB), represents a key step in advancing cross-border payment connectivity between the two nations. It will enable residents to experience faster, more efficient, and cost-effective remittances, reflecting the shared vision to enhance digital financial inclusion and modernize cross-border transaction frameworks.

By linking UPI and Fawri+ service, the initiative aims to establish a strategic remittance corridor between India and Bahrain, enhancing convenience for the large Indian community in Bahrain, which constitutes nearly 30% of the country’s population. This collaboration will strengthen financial connectivity, enable transparent and secure real-time transfers, and deepen economic integration between the two nations.

Ritesh Shukla, MD & CEO, NPCI International, said, “We are delighted to partner with BENEFIT to enable secure, real-time remittances between India and Bahrain. We believe this collaboration will deepen financial connectivity, pave the way for further cross-border payment innovations, and contribute to promoting financial inclusion and shared economic growth that benefits individuals and businesses alike. The initiative will also serve the large Indian diaspora in Bahrain, making money transfers faster, safer, and more convenient.”

On this occasion, Abdulwahed AlJanahi, Chief Executive of BENEFIT, stated, “The signing of the linkage agreement with India’s NPCI International represents an important strategic milestone in strengthening Bahrain’s presence in the global digital financial landscape. The partnership underscores our commitment to delivering advanced digital payment services that contribute to supporting the national economy and expanding economic relations between Bahrain and India. The new service will enable citizens and residents in both countries to send and receive money instantly and securely, reflecting our continuous efforts to meet the growing demand for fast, reliable, and cross-border financial solutions.”

Once live, this partnership will pave the way for seamless and inclusive cross-border remittances between India and Bahrain, supporting the shared vision of both nations to enhance digital connectivity and build an efficient, real-time payment ecosystem.

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The MoU establishes a framework for enriched cooperation, including an expanded codeshare agreement. In addition to increased connectivity, the two carriers will explore joint initiatives in cargo interline services, aircraft leasing, catering, lounge access, maintenance and ground handling operations. Turkish Airlines and Air Algérie also plan to cooperate on environmental projects, sustainability initiatives, and training programs. The partnership aims to support business growth while fostering cultural, social, and economic exchange between Türkiye and Algeria.

Commenting on the agreement, Turkish Airlines CEO Bilal Ekşi stated: “Our continuing partnership with Air Algérie reflects our commitment to long-term, sustainable collaboration. This agreement marks a key step in deepening ties between both airlines. As the airline flying to  more countries than any other, we remain committed to expanding cooperation across multiple areas to provide greater benefits and options for our guests. We are confident this partnership will enrich cultural and economic connections between Türkiye and Algeria and drive mutual growth.”

Air Algérie SpA CEO Hamza Benhamouda said: “We are honored to welcome the Turkish Airlines delegation to our headquarters in Algiers, as we continue to strengthen the ties between our two airlines and our two coutries. We are very pleased with this new milestone in our strategic partnership with Turkish Airlines. This comprehensive agreement, covering multiple areas of cooperation and the exchange of expertise, will undoubtedly bring mutual benefits to both our companies and to our passengers.”

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Under this agreement, Ericsson will enable intent-based operations, powered by its centralized Network Operations Center (NOC), to manage Airtel services across 4G, 5G NSA, 5G SA, Fixed Wireless Access (FWA), Private Networks, and Network Slicing.

This partnership will see Ericsson manage Airtel’s pan-India network through its state-of-the-art NOC while scaling FWA and Network Slicing across the country.

“We are excited to enhance our strong collaboration with Ericsson as we pursue our goal of creating a future-ready network that delivers an exceptional experience for our customers. We believe that these innovative technologies will empower us to meet the growing data demands of consumers in a digitally connected India.” Randeep Sekhon, CTO Bharti Airtel

Andres Vicente, Head of Market Area Southeast Asia, Oceania and India, Ericsson, says: “This milestone agreement with Bharti Airtel reinforces our commitment to helping Airtel deliver the best possible experience for its customers. By leveraging Intent-Based NOC Operations, we will enable Airtel to unlock wider service diversification to meet customer needs, thereby enabling new revenue opportunities for Airtel.”

Ericsson’s longstanding partnership with Bharti Airtel, spanning over 25 years, encompasses multiple generations of mobile communications technology. Notably, this announcement follows closely on the heels of Bharti Airtel’s collaboration with Ericsson on 5G Core to drive 5G evolution.

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The new fleet of advanced ambulances will be fitted with cutting-edge technologies such as Mobile Data Terminals (MDT), tablet PCs, RFID, GPS, caller location tracking, CCTV, and TRIAGE systems. These vehicles will also integrate inbuilt systems for Customer Relationship Management (CRM), Computer-Aided Dispatch (CAD), Vehicle Tracking and Management (VTMS), and patient arrival notifications.

The fleet will include Advanced Life Support (ALS) ambulances, Basic Life Support (BLS) ambulances, neonatal care units, first responder bikes, as well as sea and river boat ambulances. From a long-term perspective, the MEMS 108 program aims to feature medical application drones and helicopter-based emergency medical services.

This initiative will set a new benchmark for emergency medical services in India. It will offer cutting-edge technology and enhanced operational efficiency as well as establish a sustainable model for future public-private partnerships in high-quality service delivery.

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The agreement was formalized during the Annual General Meeting of the AMAN Union in Algiers, Algeria. The Agreement was signed by Dr. Khalid Khalafalla, Officer-in-charge of ICIEC, and  Ms. Nurbayu Kasim Chang, Acting President and Chief Executive Officer of MEXIM.

“We are immensely proud to enter into this pivotal Retakaful partnership with MEXIM,” stated Dr. Khalid Khalafalla, Officer-in-charge of ICIEC. “This alliance significantly enhances our collective capabilities in providing comprehensive trade credit risk takaful and reaffirms our steadfast commitment to facilitating sustainable economic growth across our member states. By integrating our resources and expertise, we aim to elevate the confidence of exporters and investors on a global scale, all while maintaining strict adherence to Shariah principles.“

Ms. Nurbayu said: “It is our privilege to partner with ICIEC in this collaborative Retakaful initiative. By leveraging ICIEC’s underwriting capacity, we are better positioned to safeguard Malaysian exporters against the uncertainties of commercial and political risks, particularly in exploring emerging and non-traditional markets.  MEXIM  is committed to fostering the growth of Malaysian exporters and currently offers tailored financial solutions and comprehensive coverage options facilitating business transactions in more than 50 countries across five continents. Hence, as a member of AMAN Union, this collaborative initiative with ICIEC will create stronger synergies, enabling comprehensive export protection to Malaysian exporters.”

This strategic partnership aims to bolster the global trade ecosystem by providing enhanced risk mitigation solutions for international trade. The Quota Share Retakaful Agreement allows both institutions to share risks more effectively, promoting financial stability and fostering increased trade and investment activities on a global scale.

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This strategic acquisition will create a global pigment company, combining SCIL’s operations and expertise with Heubach’s technological capabilities.

Post-acquisition, the combined company will have a broad pigment portfolio of high-quality products and a strong presence in major markets including Europe and the Americas. It will enhance SCIL’s product portfolio, giving it access to customers and a diversified asset footprint across 19 sites globally. The combined company will be led by Mr. Rajesh Rathi and a high-performing management team with quality execution skills and technical competency.

The Heubach Group has a 200-year history and became the second-largest pigment player in the world after its integration with Clariant in 2022. Heubach had over a billion euros in revenue in FY21 and FY22, with a global footprint, especially in Europe, the Americas, and the APAC region. The Group faced financial challenges over the past two years due to rising costs, inventory issues, and high interest rates. SCIL’s acquisition of Heubach will address these challenges with a clear turnaround plan.

Commenting on the transaction, Rajesh Rathi, Managing Director of SCIL said “We are delighted with this transaction that brings together two businesses that will cater to major global markets. We will carefully integrate these two companies to create a truly global pigment company, with Frankfurt remaining a strategically important location. SCIL is known for its agility and efficiency, and we will embed this culture throughout the combined company to make it one of the most customer-centric and profitable pigment companies.”

Bram D’hondt from Heubach said “By joining hands with SCIL, we aim to reclaim our 200+ years of legacy of serving customers with high-quality products. Together, we will shape the future of the pigments industry by building on the ethos of customer centricity and product excellence. Our combined capabilities will enable us to serve our customers better. We look forward to working with SCIL as we enter this next chapter.”

Crawford Bayley and Noerr are acting as legal counsel to Sudarshan and DC Advisory is acting as financial advisor.

A culture of agility and customer focus will be at the center of this integration. The strategic and financial benefits of the combination are as follows:

• A company with customer centricity (Sevā) at its heart: Post-acquisition SCIL envisages becoming the supplier of choice for all customers. The company will have a wide product portfolio across segments and applications and it will be able to offer the best-in-class product portfolio to customers. SCIL’s R&D and innovation capabilities combined with the global supply chain network, will be an enabler for the company to serve customers efficiently.
• Most valuable global pigment player: The combined entity aims to become the most valuable pigment company in the world with great financial strength and profitability. The acquisition enhances SCIL’s breadth of product portfolio in global markets, gives it an opportunity to serve global customers, especially in Europe and the Americas, and a diversified asset footprint across 19 global sites.
• An agile organization: The integration will create a culture of agility and efficiency, with significant synergies expected across functions. The combined company will implement best practices to maximize value for stakeholders.
• Led by world-class managers and pigment experts: SCIL creates a high-performing management team with quality execution skills and technical competency. The combined company will be led by Mr. Rajesh Rathi, SCIL’s Managing Director, after the close of the transaction. 

Heubach has a broad and high-quality product portfolio with a large percentage of specialties including customized products. It serves a strong customer base of global blue-chip customers with applications in coating, plastic, inks, automotive, electrical, and electronics. Heubach has 17 manufacturing sites globally providing stability during any geopolitical and supply chain challenges, ensuring long-term relationships with suppliers and customers.

The acquisition is expected to close in 3-4 months, subject to the satisfaction of customary closing conditions, including approvals from regulators and SCIL shareholders.

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The NHFSO Insurance Policy facilitated a EUR 161.4 million financing arrangement by Deutsche Bank for the Government of the Republic of Côte d’Ivoire, represented by the Ministry of Economy and Finance. This strategic funding is earmarked for the construction of new general and regional hospitals in the cities of Kong and Odienne, significantly boosting the healthcare infrastructure in Côte d’Ivoire.

ICIEC CEO, Mr. Oussama Kaissi, remarked that “the partnership with Deutsche Bank represents a significant advancement in healthcare for Côte d’Ivoire. The strategic financing will facilitate essential infrastructure development and bolster the region’s healthcare resilience, exemplifying ICIEC’s commitment to fostering sustainable development through impactful collaborations”.

This initiative is part of ICIEC’s broader strategy to support vital social infrastructure projects across its member states, promoting sustainable development and enhancing the quality of life for communities through improved healthcare facilities.

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MUMBAI: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced a 15-year expansion of its partnership with Aviva, the UK’s leading Insurance, Wealth and Retirement provider, to transform Aviva’s UK Life business and enhance customer experience leveraging the TCS BaNCS based platform. As part of this, the end-to-end policy administration and servicing will expand to cover over 5.5 million policies, to be managed by Diligenta, TCS’ FCA regulated subsidiary in the UK, on behalf of Aviva.

Aviva and TCS have jointly transformed the end-to-end experience of Aviva’s customers over the years, through a strong foundation of digitization and simplification. Aviva has now engaged TCS, to extend this enhanced customer experience using the same future-proof TCS BaNCS based digital platform to administer other Aviva books of business.

TCS’ customer-centric approach to digitization at enterprise level is centered around New Consumer Duty Principles to provide good customer outcomes, through self-service capabilities for customers, digitally powered service delivery centers and a simplified technology landscape. TCS will leverage its BaNCS^TM based platform and contextual knowledge to improve service quality and enhance the experience for all stakeholders including policyholders, advisers, and operational staff. This will enable quicker resolutions, improved access to information and better outcomes for Aviva’s customers.

Doug Brown, CEO Insurance, Wealth & Retirement, Aviva said: “Extending this strategic partnership will improve how we serve our customers, further simplify our operations and support our growth ambitions. It will allow us to rationalize our systems and improve efficiency, bringing significant benefits for our customers and the business.” 

“Our long-standing relationship with Aviva over the last 20 years is a testament to our joint efforts to consistently and continuously transform customer experience. We are delighted as we embark on the next chapter of this journey, where ongoing investment in our TCS BaNCS based platform and proven track record will enable Aviva to drive a customer-centric business, even as we continue to improve end-to-end customer experience benchmarks in the UK Life and Pensions industry,” said R Vivekanand, President, BFSI Products & Platforms, TCS.

TCS BFSI Platforms is an end-to-end digital ecosystem that powers the journeys of life, pensions/annuities, property/casualty, and health insurance providers. This SaaS-first platform helps companies manage enterprise simplification, deliver superior customer experience, and achieve digital transformation.

This announcement further enhances the strong growth momentum that TCS has seen in the UK. TCS has operated in the UK for more than 45 years and works with over 200 of the nation’s best-known and most-loved businesses including British Airways, Virgin Atlantic, Sainsbury’s, Nationwide, M&S, Asda and Boots. TCS has a leadership position in software and IT services to the UK market. It currently employs more than 23,000 people in the UK and Ireland, making it among the region’s biggest IT employers. TCS has been ranked the number one IT service provider for customer satisfaction in the UK in an independent survey of CIOs from the largest IT spending organizations in the country.

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