FTA deal puts business fraternity over the moon

new delhi: Business leaders and industry groups working across the India-UK corridor are on Tuesday rejoicing over the “historic” Free Trade Agreement, announced by Prime Ministers Narendra Modi and Keir Starmer as a “landmark” milestone in the bilateral partnership that is expected to boost jobs and growth for both economies.

India Global Forum (IGF), the UK-based policy platform working on closer bilateral collaborations, dubbed the deal at the end of three years of protracted negotiations as a “significant milestone” for India-UK relations. “The UK-India Free Trade Agreement is more than a document; it’s a starting point for a deeper, more strategic partnership,” said IGF Founder and Chairman Manoj Ladwa.

Lord Karan Bilimoria, Chair of the International Chamber of Commerce (ICC) UK, said he was “over the moon” that the deal has been done because it will be a catalyst to turbocharge investments, doubling trade to over 80 billions pounds within five years. “This is the biggest and most important Free Trade Agreement that the UK has signed since Brexit. India is the fastest growing major economy in the world, Britain’s 11th largest trade partner,”

said Bilimoria.