India-UK Services Pact Expands Market Access Amid Mobility Constraints
The India-UK services pact opens new sectors to British firms, granting them access to telecom, construction, and ancillary services without needing a local presence. Despite significant liberalization for UK entities, India's key demands like professional mobility remain unmet, with challenges like dual social security contributions only partially addressed.
- Country:
- India
In a landmark agreement, India has opened key segments of its service sector to British firms, including areas such as accounting, auditing, financial services, and telecom, according to think tank GTRI on Thursday.
This pact covers critical sectors of India's interests, including IT, management consultancy, and professional services like accountancy and engineering. UK companies can now offer telecom and related services in India without the need for a local establishment, receiving the same treatment as Indian firms.
While India committed to market access across 108 sub-sectors, the UK has opted for a more conservative approach, granting presence rights in sectors like computer services but offering limited mobility provisions, particularly disappointing on broader visa policies.
(With inputs from agencies.)
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