New Delhi— India’s top business chambers and trade organizations have hailed the finalization of the India-UK Free Trade Agreement (FTA), calling it a major milestone under the leadership of Prime Minister Narendra Modi. The historic pact is expected to boost trade, innovation, and investment between the two nations and push bilateral trade toward the $100 billion mark by 2030.
Confederation of Indian Industry (CII) President Sanjiv Puri praised the agreement as a “transformative accord” that reflects a shared commitment to expanding economic cooperation, enhancing technological collaboration, and diversifying global supply chains. “The agreement will help advance the strategic partnership outlined in the 2030 Roadmap,” Puri said.
Federation of Indian Export Organisations (FIEO) President S.C. Ralhan highlighted the benefits for Indian exporters, noting that tariff reductions on key sectors like textiles, leather, gems and jewelry, pharmaceuticals, and processed foods will improve India’s competitiveness in one of the world’s wealthiest consumer markets. He added that the deal also includes provisions on investment facilitation, intellectual property, digital trade, and dispute resolution, offering greater predictability for UK investors and reinforcing India’s appeal as an Indo-Pacific investment hub.
The UK India Business Council (UKIBC) called the FTA a significant step in deepening the economic and strategic ties between both countries. “This agreement will reduce trade barriers, foster innovation, and promote collaboration across a range of sectors—from technology and manufacturing to education and healthcare,” the council stated. It emphasized that the deal would benefit companies of all sizes and noted that UK-India trade reached £42 billion in the year ending Q2 2024, nearly double the pre-pandemic level of £24.1 billion in 2019.
UKIBC Chair Richard Heald said the agreement reflects the mutual trust and shared ambitions that define the India-UK relationship. “It will create new opportunities, drive economic growth, and foster innovation. We’re proud to have supported the negotiations and will continue helping businesses maximize the benefits of this landmark agreement,” he said.
Assocham President Sanjay Nayar echoed the praise, stating that the deal is a “win-win for both nations” and a powerful boost to the Comprehensive Strategic Partnership between India and the UK. He credited Prime Minister Modi’s leadership in sealing a deal that will drive trade, investment, and job creation. (Source: IANS)
