Greater Noida (National Desk):The India–UK Free Trade Agreement (FTA) is projected to increase bilateral trade by £25.5 billion annually, marking a new era of economic collaboration between the two nations. This was stated by Ms. Anna Shotbolt, Deputy Trade Commissioner for South Asia at the British High Commission, during an interactive session hosted by PHD Chamber of Commerce and Industry (PHDCCI) on the theme “India–UK Free Trade Agreement: The Way Forward.”
Speaking at the event held at PHD House, New Delhi, Ms. Shotbolt highlighted that the FTA includes tariff reductions on 90% of goods traded between India and the UK. Beyond tariff benefits, she emphasized that sectors such as creative industries, services, and workers in both countries will gain through stronger copyright protection and the Double Taxation Avoidance Convention, ensuring better transparency and business certainty.
Dr. Ranjeet Mehta, CEO & Secretary General of PHDCCI, noted the strategic importance of this agreement, especially given India’s rapid economic rise. “The FTA negotiations began when India was the fifth-largest economy, and by signing, it is now the fourth-largest,” he said. Dr. Mehta also underscored the significance of the social security clause supporting Indian professionals working in the UK.
As part of its 120-year celebration, PHDCCI announced plans to lead a business delegation to the UK in September to explore emerging trade and investment opportunities under the FTA.
Mr. T.S. Vishwanath, Executive Chairman, VeK Policy Advisory, said the agreement is not just about trade but building bilateral expertise, calling for enhanced Ease of Doing Business (EODB) and industry-level engagement, particularly to support MSMEs.
Prof. Rakesh Mohan Joshi, Vice Chancellor, IIFT, lauded the conclusion of the 13-year-long FTA negotiations. He highlighted India’s $1 trillion retail market and the UK’s £386.3 billion market as strong foundations for mutual growth.
Mr. Kishore Jayaraman, OBE, Chairman India, UK India Business Council, called it the “beginning of a new era” and urged both countries to leverage their respective capabilities for mutual economic benefit.
Mr. Ajay Aggarwal, President, Toy Association of India, highlighted the growing potential of India’s toy industry, particularly in areas like leather toys, which offer the UK high-quality, competitively priced products.
Mr. C.R. Rai, Co-Chair, PHDCCI Textiles Committee, described the FTA as a “transformative opportunity” for India’s textile and apparel industry. He advocated for aligning government support with industry innovation to expand India’s global textile footprint.
Mr. Naveen Seth, Deputy Secretary General, PHDCCI, concluded by reaffirming PHDCCI’s commitment to creating global partnerships and economic dialogues that benefit Indian industries. He stressed that the UK is a critical trade partner, and forums like this help Indian businesses understand and act on international market opportunities.
The India–UK FTA represents a historic step forward in trade diplomacy. With provisions that reduce tariffs, encourage market access, and promote cross-border investment, the agreement is expected to benefit key sectors such as services, technology, manufacturing, pharmaceuticals, and MSMEs, while reinforcing the commitment of both countries to sustainable economic growth.
