India Boosts Development Strategy with UK Free Trade Agreement

India is taking significant strides to enhance its external environment, aiming to support its development goals, according to Vikram Doraiswami, the nation's High Commissioner to the UK. Speaking at the India Maritime Investment Meet in London, Doraiswami highlighted India's initiatives to bolster logistics infrastructure and foster a favorable business climate.

'We are committed to creating new infrastructure prioritizing the efficient movement of goods from ports and within the nation,' Doraiswami stated, emphasizing the government's ongoing efforts to improve business ease in India, particularly through enhanced logistics over the past eight years.

Doraiswami noted that beyond capital investment, improving logistics requires a supportive policy framework involving state governments and municipalities. India's proactive approach in the last decade has translated into effective foreign and economic policies supporting the nation's development goals externally.

He also pointed out the strategic importance of the recently finalised Free Trade Agreement (FTA) between India and the UK. This pivotal agreement, concluded on May 6, 2025, after lengthy negotiations, is expected to boost Indian exports, enhance worker mobility, and stimulate economic growth through higher remittances.

The FTA aims to double trade between the two countries to USD 113.4 billion by 2030, offering improved market access for Indian textiles and apparel. This agreement addresses challenges in the US market, ensuring robust growth in Indian exports. The economic relationship is projected to significantly benefit India's economy, contributing to higher GDP through increased domestic spending.

(With inputs from agencies.)