India UK FTA hailed by India Inc: ‘Transformative moment in global economic landscape’

India and the United Kingdom signed a rating on Thursday to enhance bilateral trade by canceling the customs tariff for cars, textiles, whiskey and a group of other products. Prime Minister Narendra Modi and his counterpart in the United Kingdom, Kiir Starmer, installed the “Vision 2035” strategy to expand relations in defense, technology, clean energy and immigration.

It is expected that the historical commercial deal will provide comprehensively to Indian goods in all sectors. India will benefit from the cancellation of customs tariffs on about 99 percent of tariff lines that cover about 100 percent of commercial values. Moody said that the agreement is more than just an economic partnership; It is a plan for joint prosperity. Access to UK markets for Indian textiles, shoes, gemstones, jewelry, seafood and geometric goods. It will also create new opportunities for agricultural products in India and the processed food industry. The deal in particular will benefit the youth of India, farmers, fishermen and the MSME sector. He added that the United Kingdom’s products such as medical devices and flight parts will be available to the Indian people and the industry at available prices at reasonable prices.

The commercial deal was welcomed by India Inc as a “transformative moment”.

Anil Aguar, Chairman of the Board of Directors, said that many hard work had reached the trade deal in India. “The Free Trade Agreement will be a victory for both countries. It will enhance economic activity and create many jobs and opportunities for entrepreneurship, in both countries. These countries will help increase trade by at least $ 20 billion.

“The signing of the India-UK’s commercial deal is a prominent moment that is consumed in a new era of strategic economic partnership-opening unprecedented opportunities for growth, innovation and investment,” said Ashok Hinduja, Chairman of the Board of Directors.

“The National Union of India-UK is more than just a commercial agreement-it is an incentive to create job opportunities, empower youth, and build a ready-made working force in the future. As for Indian industry, it represents a significant step towards comprehensive economic growth and sustainability with global vehicles in its essence,” said Ajay Praramal, Chairman and CEO of Piramal Enterprises.

Anish Shah, the group’s CEO and MD, described by the Mahindra Group as “a transformational moment in the global economic scene.” He said, “It is not just a trade victory, but it is a plan for a modern partnership led by values that put innovation, sustainability and comprehensive growth in the heart of global cooperation,” adding that the deal has the ability to open economic capabilities, create high -quality jobs, and accelerate progress in future sectors such as green movement and green energy.

“The signing of the India-UK Free Trade Convention is a pivotal moment-it opens new borders for Indian companies to take” manufacture in India “to the world.”

“The US football Association in India – UK represents a historical framework that enhances the structure of facilitating trade in India. By providing exempt from customs duties on 99 % of the Indian tariff lines and integrating strong provisions on digital trade, transportation, and the liberalization of services, the agreement greatly provides the obligations of access to the market. It creates a more predictive environment for small and medium -sized companies and foreign investors, which enhances the credibility of India as a manufacturing partner and a supply chain based on the bases is in line with its broader economic goals.

“The Free Trade Agreement in India is ready to cancel important opportunities through the main consumer sectors. In Alco-BE, the largest beneficiary will be to have moderate brands in the United Kingdom, with the expansion of global brands. The cosmetic sector will also witness an increase in coordination of standards that allow Reaching the most smooth markets.

“The Free Trade Agreement is ready to cancel the main opportunities for Indian export from generational drugs and medical devices with low customs tariffs, the fastest organizational approvals, and its balanced system in the IP system can be able to expand a competitive scope in the UK market. Companies will benefit in the United Kingdom in a form Similar to the improved IP protection system. “

The comprehensive economic and commercial agreement (CETA), signed by the Minister of Trade Piyush Goyal and its counterpart in the United Kingdom, Jonathan Reynolds, in the presence of prime ministers, aims to strengthen bilateral trade by about 34 billion dollars annually and ensure better access to markets.

Starmer said the commercial deal will reduce prices on Indian goods, including clothes, shoes and food. He called on the deal as a great victory for Britain that would create thousands of British jobs, launch new job opportunities and push growth throughout the country.

It is considered the largest trade agreement in Britain since its exit from the European Union and comes amid global concerns about the tariffs of US president Donald Trump. The two sides also agreed to negotiate a dual -joint stock agreement (DCC) to exempt employees of Indian workers from paying social security contributions in the United Kingdom for a period of up to three years. DCC will enter into force with CETA.