New Delhi: The India–UK Comprehensive Economic and Trade Agreement (CETA) is poised to create significant opportunities for India’s seafood export sector, according to the Marine Products Export Development Authority (MPEDA). During a two-day interaction with exporters, MPEDA chairman D.V. Swamy urged them to adopt strategies focused on value addition and workforce upskilling to fully leverage the agreement.

The CETA pact, inked in July this year, grants zero-duty access to 99 per cent of tariff lines, enhancing the competitiveness of Indian seafood in the UK market. Key categories such as Vannamei shrimp, frozen squid, lobsters, frozen pomfret, and black tiger shrimp are expected to benefit directly from the duty-free access.

The meetings provided a platform for industry stakeholders to explore the implications of the agreement. Presentations by Anil Kumar P., Joint Director, MPEDA, outlined the salient features of CETA, while Alex Paul Menon, Development Commissioner of the MPEZ-SEZ, highlighted the potential for Marine Aquapark SEZ development in Tamil Nadu.

Stakeholders, including officials from the Department of Commerce, Export Inspection Agency (EIA), and the Seafood Exporters Association of India (SEAI), alongside over 90 exporters from Tamil Nadu, Andhra Pradesh, and Odisha, shared insights on market opportunities and operational strategies.

India exported marine products worth $7.45 billion in 2024–25, with shrimp, fish, and cuttlefish forming the bulk of shipments. Exports to the UK reached 16,082 MT valued at $104.43 million, driven largely by demand for frozen shrimp, which accounted for 77 per cent of the total UK shipments, followed by frozen fish at eight per cent.

Industry experts anticipate that the India-UK CETA could double Indian seafood exports to the UK in the near term. The agreement is expected to catalyse economic growth, employment generation, and innovation while promoting sustainable practices in the sector.

Swamy emphasised that tapping into this opportunity will require coordinated efforts to enhance product quality, scaling up processing capabilities, and training skilled labour to meet the rising demand in global markets. The MPEDA chairman further pointed out that with proactive adaptation and strategic investment, Indian seafood exporters can not only increase their market share in the UK but also establish India as a competitive, high-value supplier in international seafood trade.

Gold remains a key portfolio asset despite recent surges, and investors may still find opportunities to buy on dips, according to Michael Widmer, head of metals research at Bank of America.“Gold is overbought at the moment, but it is still underinvested,” Widmer told Bloomberg Television. “ETF inflows last month were up 880% year-over-year, and that is ultimately a concern. From a pure fundamental macro backdrop, we’re still looking good. The entry points are coming.”Widmer explained that while gold has rallied sharply in recent months, its allocation in portfolios remains well below historical highs. “The highest we’ve ever had in terms of gold allocation is about 1.1%. Right now we are at half a percent. There is still space to increase,” he said, highlighting the potential for selective investment.He cautioned, however, that rapid inflows into gold ETFs cannot continue indefinitely. “You can’t compound growth at 880% forever. At some stage, you run into an air pocket, and gold might not rally. But fundamentally, it remains strong,” Widmer added.On identifying buying opportunities, he said investors should watch for short-term dips. “Monthly or weekly price movements of $100–$200 could present entry points. Volatility is picking up, so the opportunities are coming,” he noted.Widmer also stressed that gold is not purely a speculative asset but plays a strategic role in diversified portfolios. “It has a theoretical underpinning related to fiat currencies and debt. While it doesn’t perform directly in the real economy, it provides price exposure and portfolio diversification,” he said.He noted that institutional holdings of gold typically range from 10–15% of total assets, depending on the risk-return profile. “For the best portfolios, gold serves as a meaningful diversification tool, offering protection and exposure in times of market uncertainty,” Widmer said.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India.)

Diwali 2025 bank holidays: As the festive week of Diwali approaches, several states will see a string of bank holidays. However, banks will not remain closed nationwide for three consecutive days, with most closures being state-specific based on regional festivals.

This Saturday, October 18, banks across India will remain open, as it is the third Saturday of the month. No, banks will not be closed on Dhanteras, which also falls on October 18.

Regular banking services will continue nationwide, the only exception is Assam, where branches will stay closed in observance of the Kati Bihu festival.

Monday, October 20: Banks will be closed in multiple states and union territories including Tripura, Gujarat, Mizoram, Karnataka, Madhya Pradesh, Chandigarh (UT), Tamil Nadu, Uttarakhand, Assam, Telangana, Arunachal Pradesh, Rajasthan, Uttar Pradesh, Kerala, Nagaland, West Bengal, Delhi (NCT), Goa, Chhattisgarh, Jharkhand, Meghalaya, Himachal Pradesh, and Andhra Pradesh for Diwali, Naraka Chaturdashi, and Kali Puja celebrations.Tuesday, October 21: Branches in Belapur, Bhopal, Bhubaneswar, Gangtok, Imphal, Jammu, Mumbai, Nagpur, Raipur, and Srinagar will remain shut for Diwali Amavasya, Deepawali, and Govardhan Puja.Wednesday, October 22: Banks in Gujarat, Maharashtra, Karnataka, Uttarakhand, Sikkim, Rajasthan, Uttar Pradesh, and Bihar will be closed for Balipadyami, Laxmi Puja (Diwali), and Vikram Samvat New Year Day.Thursday, October 23: In Gujarat, Sikkim, Manipur, Uttar Pradesh, West Bengal, and Himachal Pradesh, banks will remain closed for Bhaidooj, Chitragupt Jayanti, Laxmi Puja, Bhratridwitiya, and Ningol Chakkouba.

Upcoming state-wise bank holiday schedule:

October 27–28: Banks in Kolkata, Patna, and Ranchi will stay shut for Chhath Puja.Friday, October 31: In Ahmedabad, banks will remain closed to mark Sardar Vallabhbhai Patel’s birth anniversary.

Even on holidays, customers can continue using online banking, ATMs, mobile apps, and UPI platforms for fund transfers, bill payments, and other services.However, in-person services such as large cash deposits, demand drafts, and account settlements will not be available. It’s advisable to plan transactions in advance to avoid last-minute inconvenience during the festive week.