A reported £6 billion in new investment and export deals between the UK and India has been announced, supporting the creation of over 2,200 jobs across the UK.
William Bain, Head of Trade Policy at the British Chambers of Commerce (BCC), said:
“The signing of this agreement is a clear signal of the UK’s continuing commitment to free and fair trade.
“It will open a new era for our businesses and boost investment between two of the world’s largest economies.
“Key UK sectors which are expected to benefit include food and drink, industrial goods and automotives. Not only will they see lower tariffs now, but there will be further reductions over the next decade, creating stable conditions to expand UK exports to a fast-growing market.
“Currently around 16,000 UK companies are trading goods with Indian companies, and there is high interest in our Chamber Network to grow that.
“A stronger UK-India relationship also creates huge scope to raise our services exports, which already outperform our sales of goods. This deal will create new opportunities in the transport, travel, creative and business support sectors alongside traditional strengths in finance and professional services.”
Richard Heald OBE, Chair of the BCC’s sister Chamber in India, the UK-India Business Council (UKIBC), said:
“The UK-India FTA marks a historic milestone in the bilateral relationship. Businesses across both countries have long called for an agreement that reduces barriers, enhances market access, and creates a clear framework for long-term, sustainable growth.
“We congratulate both governments for their commitment and ambition in bringing this complex negotiation to fruition. Success in the FTA will support further economic growth for the world’s 5th and 6th largest economies. It will catalyse collaboration in other areas too.
“UKIBC, and more broadly British businesses, recognise that a successful FTA is a critical milestone in a longer-term journey and are keen to support India’s ambitions. As a trusted partner to both governments and businesses, UKIBC has actively supported the FTA journey through consultation, policy input, and sector-specific insight.”
