PACT FULL OF POTENTIAL

Bharti Enterprises' SUNIL BHARTI MITTAL, who is also Co-Chair of the India-UK CEO Forum, on the India-UK FTA, Indian industry's response to it, and more

- By Sunil Bharti Mittal, Founder & Chairman, Bharti Enterprises

On Strengthening Trade Ties

The India-UK Free Trade Agreement (FTA) promises to significantly boost economic ties between the two nations. By lowering trade barriers and enhancing investor confidence, the FTA will create opportunities for joint ventures and facilitate smoother technology transfers. Labour-intensive sectors such as textiles, leather, marine products, and gems & jewellery are set to gain from improved market access. The agreement is expected to help both countries achieve their ambitious target of doubling bilateral trade to $120 billion by 2030.

Importantly, this agreement comes at a time when global trade faces volatility, and bilateral arrangements offer stability and clarity. With more than 970 Indian companies operating in the UK, employing over a million people and contributing substantially to the local tax base, the FTA is poised to amplify these figures.