The High Commission of India organised a special community interaction with members of the Indian diaspora at India House in London, shortly after the successful completion of Operation Sindoor.
As India and the United Kingdom successfully conclude their Free Trade Agreement (FTA), it has to be ensured that goods traded between the two nations have sufficient local content to prevent Chinese goods from entering markets through the backdoor, according to a report by Canara Bank.
India is expected to double its market share from 6 per cent in 2024 to 12 per cent in the UK's readymade made garments (RMG) imports, translating into an incremental annual export opportunity of around USD 1.1-1.2 billion in the near to medium term, according to CareEdge Ratings.
Indian industries are looking forward to more free trade agreements (FTAs) because such trade pacts are the key enablers for participating in the global value chain, said Sanjiv Puri, President of the Confederation of Indian Industry (CII) and Managing Director of ITC.
This development builds on the shared commitment to deepen economic ties and guidance given by Prime Minister Narendra Modi during the visit of Christopher Luxon, Prime Minister of New Zealand in March.
Ambassador of the Delegation of the European Union to India, Herve Delphin, on Friday said that the negotiating teams from the EU will be India next week.
Free Trade Agreements (FTAs) are making India more competitive with markets like the United States of America, China and Brazil, said an official of the Commerce Ministry.
The recently concluded Free Trade Agreement between India and the United Kingdom is expected to benefit both nations economically and could also pave the way for similar agreements with other countries such as the United States and the European Union, says a report by Bank of Baroda.
Sharing more details on the India-UK FTA, Union Commerce and Industry Minister Piyush Goyal said that UK-based suppliers will be eligible to bid for government tenders only for orders of more than Rs 200 crore.
India should approach the implementation of the Government Procurement (GP) chapter in the recently concluded India-UK Free Trade Agreement (FTA) with extreme caution, according to a report by the Global Trade Research Initiative (GTRI).
India and the United Kingdom FTA is seen as a part of a new global trade strategy that aims to reduce dependence on China, manage trade challenges from US tariffs, and help the UK reshape its economy after Brexit, according to a report by SBI Research.
The Indian textile industry has welcomed the India-UK Free Trade Agreement (FTA), calling it a major step towards expanding India's presence in the lucrative UK market.