India-UK FTA Hailed as Game-Changer for Exports, Boosts Trade and MSME Growth
- India-UK trade hits $23.1 billion with a $5.9 billion surplus in FY2024–25.
- Zero-duty access to Indian agri, seafood, and engineering exports to boost sectoral growth.
- MSMEs and professionals to benefit from tariff cuts, tax exemptions, and extended visa stays.
The Trade Promotion Council of India (TPCI) has hailed the recently signed India-UK Free Trade Agreement (FTA) as a landmark achievement, unlocking major opportunities for Indian exporters across agriculture, seafood, engineering, and services.
In FY2024-25, India-UK trade hit a record $23.1 billion, with exports rising 12.4% to $14.5 billion and imports at $8.6 billion, generating a trade surplus of $5.9 billion.
The FTA grants zero-duty access to over 95% of Indian agri and processed food products, promising over 20% export growth in three years. India’s seafood sector, with access to the UK’s $5.4 billion marine market, will gain parity with EU nations, benefitting fisherfolk in coastal states.
TPCI Chairman Mohit Singla called the deal 'visionary', adding it will support brand India globally, boost rural prosperity, and integrate India further into global value chains.
NSE MD and CEO Ashish Kumar Chauhan highlighted major benefits for professionals, including three-year social security tax exemptions, saving an estimated Rs 4,000 crore annually, and extended visa provisions.
EEPC India projected that engineering exports, currently India’s sixth-largest to the UK, could nearly double to $7.5 billion by 2029-30, following tariff elimination of up to 18%.
EEPC Chairman Pankaj Chadha termed the FTA a 'strategic breakthrough' that will empower MSMEs and enhance India’s global export footprint.
