India-UK Trade Pact Boosts Prospects for SMEs in Consumer Goods
The India-UK free trade agreement promises to boost domestic brands and SMEs across consumer goods, retail, and other sectors in the British market. The deal aims to double bilateral trade to USD 120 billion by 2030, creating enhanced market access and fostering economic integration between the two countries.
- Country:
- India
The newly signed India-UK free trade agreement is set to unlock substantial opportunities for domestic brands and small- and medium-sized enterprises (SMEs) in sectors like consumer goods and retail in the UK market, according to a statement by Komerz Ltd.
As a global distributor specializing in omni-channel commerce solutions, Komerz Ltd expressed optimism regarding the trade pact, emphasizing its potential to simplify trade processes and broaden access to capital. "I believe this agreement will dramatically simplify how companies trade, expand, and access capital," said Siddharth Shankar, COO of Komerz Ltd.
Signed on July 24, the agreement aims for implementation in the upcoming year. Forecasting a doubling of trade to USD 120 billion by 2030, the agreement is seen as a pivotal moment in India-UK relations, facilitating deeper economic integration and encouraging joint ventures and innovation.
Google News