The India-UK FTA: A New Era of Bilateral Trade

The signing of the India-UK Free Trade Agreement (FTA) is being hailed as a landmark moment in bilateral relations, promising to double trade between the two nations. Bharti Enterprises Chairman, Sunil Bharti Mittal, emphasized the complementary nature of the agreement and its potential to strengthen economic ties.

Mittal, who co-chairs the India–UK CEO Forum, expressed optimism about the ambitious trade targets set forth, highlighting opportunities for small and medium enterprises (SMEs) and technology firms. He noted that the three-year exemption on social security contributions could significantly benefit Indian technology companies operating in the UK.

The FTA is set to eliminate tariffs on 99% of Indian exports and facilitate the entry of British whisky and cars into India. While Mittal sees the deal as a blueprint for future agreements, including with the EU, he cautioned against drawing direct comparisons with potential negotiations with the US, citing the unpredictability of the American market.

(With inputs from agencies.)