India-UK FTA aims to increase bilateral trade to USD 100 billion by 2030, benefiting to Indian exporters through the FMCG sectors, health care and innovation. The agreement will also strengthen commercial and investment opportunities in the context of global uncertainties.
They stressed that the free trade agreement (ALE) will have an impact on new impetus for sectors such as FMCG, health care and innovation companies.
The president of the FICCI, Harsha Vardhan Agarwal, said: “Guided by the daring and strategic leadership of Prime Minister Modi, this stage reflects the growing stature of India as a global economic force and in progress partner.”
The Ale of India-Uk highlights the need to improve commercial opportunities and investment in a current global commercial environment faced with uncertainties. This agreement will be extremely beneficial for Indian exporters who seek to improve their presence on the British market, said Ficci.
The president of the CII, Sanjiv Puri, said that this transformative agreement “reflects our common commitment to deepen economic ties, to strengthen technological collaboration, to diversify global supply chains and to promote a more favorable environment for businesses”.
“Guided by the 2030 roadmap, the appropriate agreement will help advance a complete strategic partnership between India and the United Kingdom, leading bilateral trade towards the ambitious objective of USD 100 billion by 2030,” said Puri.
Commenting on the agreement, the company TVS Motor MD Sudarshan Venu said that it created great opportunities for Indian companies like TVS Motor to develop more and to access new markets.
“We really appreciate the efforts made by the government to conclude this historic free trade agreement from India-Uk. Our British brand Norton will be launched later this year and this agreement will help us to evolve more quickly and to take advantage of the common supply chains. We are delighted to progress more to Viksit Bharat,” he added.
About The Author
