Industry leaders hail India–UK FTA – Industry News

Industry leaders from both India and the UK gave a resounding welcome to the signing of the India–UK Free Trade Agreement (FTA), describing it as a forward-looking framework that could redefine economic collaboration between the two countries.

A 16-member delegation of Indian business leaders accompanied Prime Minister Narendra Modi to the UK.

Sunil Bharti on India–UK trade deal

Sunil Bharti Mittal, founder and chairman of Bharti Enterprises and co-chair of the India–UK CEO Forum, said the agreement heralds a new chapter for businesses on both sides. “Indian industry across all sectors welcomes the India–UK FTA with great optimism. This agreement establishes a modern, forward-looking partnership that will stimulate innovation, ease market access, and foster investment. Businesses in India as well as the UK stand to gain tremendously, as it lays the groundwork for scaling up bilateral cooperation across key growth sectors,” Mittal said.

British companies also echoed the sentiment. Tufan Erginbilgic, CEO of Rolls-Royce, said the deal supports their long-standing relationship with India, especially in the aerospace sector. Diageo’s interim CEO Nik Jhangiani welcomed the steep reduction in tariffs for alcohol, noting this would significantly improve Scotch whisky exports to India. Jean-Etienne Gourgues of Chivas Brothers described the FTA as a timely boost for the spirits industry, calling it “a sign of hope” that will help drive long-term investment and job creation in both countries.

On the Indian side, Mahindra Group’s CEO and MD Anish Shah said the agreement “marks a transformative moment in the global economic landscape” and aligns with India’s strategic goals in sustainability, clean energy, and digital technology. “This deal is also a testament to the growing stature of India as a trusted partner and innovation powerhouse in the global order,” Shah said.

“A powerful catalyst for industrial growth,” Vedanta chairman Anil Agarwal

Vedanta chairman Anil Agarwal called the pact “a powerful catalyst for industrial growth,” while Sudarshan Venu of TVS Motor Company highlighted its alignment with the ‘Make in India’ vision. “It opens new frontiers for Indian companies to take ‘Make in India’ to the world. We are particularly excited given the launch of new Norton vehicles in the UK this year,” Venu said.

Prashant Ruia, group CEO of Essar, said the FTA “marks the beginning of a new era of strategic collaboration,” praising the agreement for lowering tariffs and easing market access.

Industry bodies also welcomed the agreement. Ficci president Harsha Vardhan Agarwal said it marked a milestone in India’s trade journey, calling it “a step toward a more resilient and opportunity-driven trade ecosystem”.

The FTA, once ratified by the UK Parliament, is expected to double bilateral trade from $60 billion to $120 billion by 2030. It will reduce tariffs, encourage technology transfers, and foster joint ventures in sectors ranging from clean energy and digital innovation to textiles and automotive. A reciprocal Social Security Agreement will also ease conditions for Indian professionals working in the UK.