Business leaders mark UK–India FTA as historic step forward

25 Jul '25

2 min read

Business leaders mark UK–India FTA as historic step forward

Pic: Shutterstock

Insights

Business leaders have hailed the UK–India Free Trade Agreement as a £4.8 billion (~$6.46 billion) boost to growth, slashing trade barriers and deepening ties.
CBI's Rain Newton-Smith called it a strong pro-trade signal, while John Smedley's Bill Leach said the FTA would expand access to UK luxury knitwear for India's fast-growing premium market.

Business leaders have hailed the signing of the UK–India Free Trade Agreement as a ‘historic milestone’ poised to unlock £4.8 billion (~$6.46 billion) in economic growth. The landmark deal was officially signed by UK Business and Trade Secretary Jonathan Reynolds and India’s Commerce and Industry Minister Piyush Goyal, marking a significant deepening of bilateral ties between two of the world’s fastest-growing economies.

Welcomed across key sectors, the deal promises to slash trade barriers and strengthen long-term commercial collaboration, Department for Business and Trade and Jonathan Reynolds MP, said in a release.

“In an era of rising protectionism, today’s (July 24, 2025) announcement sends a powerful signal that the UK is open for business and remains resolute in its commitment to free and fair trade. The CBI looks forward to working closely alongside the Confederation of Indian Industry to turn ambition into action and negotiation into real-world impact. Ensuring this agreement delivers tangible benefits for businesses on both sides will be critical to meeting the UK’s growth ambitions,” said Rain Newton-Smith, CEO, CBI.

From the luxury retail sector, Bill Leach, global sales director at heritage knitwear brand John Smedley Ltd, said the company looks forward to expanding its footprint in India, one of the world’s fastest-growing luxury markets.

“John Smedley knitwear is already sold in over 50 countries around the world, and now that the FTA has been signed, we shall very much look forward to ensuring that an ever-increasing number of discerning luxury consumers in India will enjoy greater access to The World’s Finest Knitwear,” Leach said.

Fibre2Fashion News Desk (HU)

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