India and the UK have signed a Free Trade Agreement (FTA). This agreement aims to boost exports and strengthen economic ties between the two nations. The FTA is expected to provide Indian exporters with greater access to the UK market.
Key sectors poised to benefit include FMCG, healthcare, innovation, and textiles. Bilateral trade in goods and services currently exceeds USD 50 billion. Projections suggest this figure will increase significantly in the coming years.
The agreement includes the Double Contribution Convention. This will ease social security conditions for Indian professionals working in the UK on short-term assignments. Industry leaders from both countries have welcomed the agreement.
The agreement will help advance a comprehensive strategic partnership between India and the UK. It will steer bilateral trade towards the ambitious target of USD 100 billion by 2030.
The FTA will unlock new opportunities for businesses across both countries. It will drive economic growth, create jobs, and support innovation and collaboration across sectors.
The inclusion of the Double Contribution Convention is a win for Indian professionals. The deal's true test lies in how the UK's Carbon Border Adjustment Mechanism (CBAM) is handled.
The agreement would significantly boost bilateral trade. It will attract strategic investments and further integrate Indian businesses into the global value chain.
This article is based on our author's analysis of materials taken from the following resources: Reuters.