UK India Business Council celebrates final go ahead to FTA

New Delhi, June 17 (IANS) The UK India Business Council (UKIBC) on Wednesday welcomed the "Entry Into Force" announcement, which constitutes the final go ahead for the landmark Comprehensive Economic Trade Agreement (CETA) between the two countries which will come into effect on July 15 this year.

The leadership of UK and India have repeatedly underscored the importance of building a forward looking partnership anchored in advanced defence technology, innovation, and trade collaboration.

This strategic intent has gained momentum through a series of high-level bilateral engagements in recent years, including discussions between Prime Minister Narendra Modi and his UK counterpart Keir Starmer's visit to India in 2025, according to a UKIBC statement.

The total bilateral trade between India and the UK reached nearly £47.9 billion ($56-60 billion) in the four quarters ending Q4 2025, representing a 10 per cent increase from previous years, the statement added.

"For India, CETA will bring significant benefits to India's services sector by creating opportunities in Information Technology and IT-enabled Services (IT/ITeS), Financial Services, Professional Services such as management consultancy, architectural and engineering, Other Business Services, and Education Services. One of the most significant aspects of the UK-India trade agreement is the enhanced market access it provides to both countries," the statement said.

"India's large and fast-growing economy, with a 1.4 billion market and an expanding middle class, offers UK businesses significant export and investment opportunities. Tariff reductions under the CETA are expected to boost UK exports. With the deal, Britain welcomes almost £6 billion in new investment and export wins, which aim to create more than 2,200 British jobs across the country with the Indian firms expanding their operations in the UK and British companies secure new business opportunities in India," the statement added.