As India and the United Kingdom finalize their Free Trade Agreement (FTA), industry leaders are lauding the move as a pivotal step toward boosting bilateral trade and economic cooperation.
Dr. Ajai Chowdhry, Co-Founder of HCL, Founder & Chairman of EPIC Foundation, and Chairman of the Mission Governing Board for the National Quantum Mission (NQM), called the agreement a “game-changer” that will redefine India’s global trade landscape.
“The India-UK Free Trade Agreement is a game-changer, set to double bilateral trade and cement our Comprehensive Strategic Partnership driving innovation, job creation and strengthening the economy of both countries,” said Dr. Chowdhry.
He further highlighted the benefits for Indian service providers, particularly due to duty-free access to the UK market. The FTA includes a notable provision: a three-year exemption from social security contributions for Indian workers and their employers in the UK.
“This will not only enhance the competitiveness of Indian service providers in the UK but also encourage Indian workers and businesses to expand their services and access in the UK market,” he added.
Dr. Chowdhry emphasized that the India-UK FTA could set a template for future trade negotiations, helping India tap into new markets and diversify its global trade engagements.
This endorsement reflects optimism from the technology and innovation sectors, complementing broader support from policymakers who view the agreement as key to India’s economic growth in a multipolar trade environment.