India-UK FTA: A Catalyst for Tech Innovation and Collaboration

The Indian tech industry praised the India-UK Free Trade Agreement (FTA) as a landmark deal, highlighting its potential to eliminate double contribution burdens for Indian technology companies in the UK. This agreement directly addresses a long-standing challenge faced by these firms.

The FTA is expected to foster collaboration in emerging areas such as artificial intelligence, cybersecurity, and digital transformation, creating a supportive environment for startups and innovators. Industry body NASSCOM emphasized the pact's role in deepening economic ties between the two nations and promoting trade, investment, and job creation.

By including the Double Contribution Convention, which exempts Indian workers in the UK from social security contributions for three years, the FTA enhances mobility for professionals, opening new opportunities for skilled Indian talent. This strategic move reinforces India's position in delivering high-quality services globally and drives bilateral trade in services and innovation.

(With inputs from agencies.)