The recently concluded India–United Kingdom Free Trade Agreement (FTA) is expected to democratise exports by creating new opportunities for businesses, according to Prof. Mahendra Kumar Choudhary, President of the Indian Merchants’ Chamber (IMC).
Speaking exclusively to IANS, Choudhary described the agreement as a “historic step” that would strengthen India’s export ecosystem by enabling manufacturers and service providers to expand their presence in the UK market.
He said the benefits of the FTA would not be limited to large corporations but also support micro, small and medium enterprises (MSMEs), helping them compete more effectively on the global stage.
According to Choudhary, the most beneficial sectors would be textiles and apparel, gems and jewellery, leather and leather goods, information technology, professional services and other labour-intensive industries. He noted that India’s globally recognised expertise in diamond cutting and polishing positions the country to gain significantly in the gems and jewellery segment.
He also highlighted India’s skilled workforce in information technology, fintech, financial services and software engineering, saying improved access to the UK market would help these sectors strengthen their international presence.
Choudhary added that India’s cost-efficient manufacturing, combined with access to a high-income consumer market such as the UK, would improve value realisation for domestic companies while enhancing their global competitiveness.
Referring to India’s push for technological self-reliance, he cited Skyroot Aerospace as an example of the country’s growing indigenous innovation, saying its achievements should encourage greater investment in homegrown technologies and locally developed components.
