Deputy Trade Commissioner for South Asia at the British High Commission, Anna Shotbolt has said that the India-UK Free Trade Agreement is projected to increase bilateral trade between the two countries by £25.5 billion annually.
She highlighted that under this FTA, there are provisions for tariff reductions on 90 per cent of traded goods between the two countries.
“However, it is not only about tariffs, which are indeed a crucial aspect that will benefit many industries. Creative companies will also benefit through stronger copyright protections, and the services sector will see gains as well. The Double Contributions Convention (DCC) will also help workers on both sides, creating more transparency and certainty,” she said at an event organised by industry body PHDCCI in the national capital recently, as was quoted in a PHDCCI statement.