India-UK Free Trade Agreement: A Gateway to Seamless Trade

In a landmark move, the India-UK Free Trade Agreement (FTA) promises to streamline trade by lowering tariffs and simplifying customs and digital processes. Mark Birrell, Trade Counsellor for South Asia at the British Deputy High Commission in Mumbai, emphasized its potential during the Confederation of Indian Industry Global Trade Scenario National Summit on Thursday.

Signed in July, the agreement marks a significant step in strengthening the trade ties between the UK and India. Birrell highlighted the positive signals from both countries as the ratification process continues, noting the FTA's role in paving the way for future cooperation.

The deal, described by the Ministry of Commerce and Industry as a landmark, offers zero-duty access on 99% of tariff lines. It is set to unlock export opportunities in labor-intensive sectors, boost employment, and empower small enterprises. Birrell also underscored the importance of sustainability and regulatory alignment in enhancing this pivotal trade relationship.

(With inputs from agencies.)