India-UK trade pact enhance: Industry bodies hails FTA as ‘transformational milestone’, gems and jewellery sectors eye big gains

Indian trade leaders on Thursday welcomed the signing of the India-UK free trade settlement (FTA) as a “transformational milestone” for bilateral financial relations, praising its potential to broaden exports, enhance funding, and catalyse joint ventures throughout a number of progress sectors.Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises and Co-Chair of the India-UK CEO Forum, mentioned the settlement would stimulate innovation, ease market entry, and foster funding. “Indian industry across all sectors welcomes the India-UK FTA with great optimism,” he mentioned, quoted PTI. “This agreement establishes a modern, forward-looking partnership.”The Confederation of Indian Industry (CII) echoed the sentiment, noting that the settlement will deepen bilateral cooperation in clear power, digital applied sciences, life sciences, and superior manufacturing.“This FTA marks a defining moment in our bilateral relationship, reflecting a shared commitment to inclusive growth, economic resilience, and industrial transformation,” mentioned Chandrajit Banerjee, Director General of CII. “It creates a strong foundation for deeper market access, regulatory cooperation, and next-generation partnerships.”The trade pact, as soon as ratified by the British Parliament, is anticipated to scale back obstacles in labour-intensive sectors like textiles, leather-based, gems and jewellery, and marine merchandise. It additionally features a reciprocal social safety settlement that may permit Indian professionals to proceed contributions to Indian schemes whereas working within the UK for as much as three years.Gems and jewellery exporters see important upside. Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), known as the deal a “landmark accord” that might practically triple exports to the UK. “Currently, exports to the UK stand at $941 million; with the duty concessions in place, this figure is poised to surge to $2.5 billion within the next three years,” he mentioned.British firms additionally welcomed the deal, significantly these within the aerospace and spirits industries. Rolls-Royce CEO Tufan Erginbilgic mentioned the FTA will assist deepen co-development in energy and propulsion applied sciences with Indian companions.Nik Jhangiani, Interim CEO of Diageo, applauded the phased discount in Scotch whisky tariffs from 150% to 75%, and finally to 40%. “This agreement marks a great moment for both Scotch and Scotland, and we’ll be raising a glass of Johnnie Walker to all those who have worked so hard to get it secured,” he mentioned.Chivas Brothers Chairman and CEO Jean-Etienne Gourgues mentioned the settlement can be a “game changer” for Scotch whisky exports to India. “The deal will support long-term investment and jobs in our distilleries in Speyside and our bottling plant at Kilmalid,” he added.The deal is anticipated to speed up bilateral trade and funding, with enterprise teams urging each governments to expedite ratification and implementation.