The FTA opens up significant opportunities for labour- and technology-intensive industries including textiles, leather, footwear, marine products, sports goods, engineering goods and chemicals. These sectors are expected to gain a competitive edge in the UK market, with improved export potential and job creation in India.
In services, the UK has offered one of its most ambitious commitments yet, granting enhanced access in areas such as IT/ITeS, finance, professional and educational services. The deal also facilitates easier mobility for Indian professionals including contractual workers, investors, and independent professionals.
Indian service providers will benefit from a three-year exemption from UK social security contributions, leading to cost savings and higher competitiveness. Additionally, the FTA addresses non-tariff barriers and encourages regulatory transparency, aligning with India’s domestic reform agenda to improve ease of doing business.
“As two leading democracies and global innovation hubs, India and the UK reaffirm their commitment to strengthening economic cooperation and working together to address global challenges. The India–UK FTA sets a new benchmark for fair, ambitious, and modern trade agreements worldwide,” the Ministry of Commerce and Industry said in a statement.
Fibre2Fashion News Desk (KD)
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