Bharti Enterprises chairman Sunil Mittal has described the India-UK Free Trade Agreement (FTA) as “nicely balanced, perhaps more in favour of India,” highlighting that “the Western world has not opened up to India with respect to access to technology, this is a good deal for India.”
“The India-UK trade deal is nicely balanced… perhaps more in favour of India” says Sunil Bharti Mittal, Chairman of Bharti Enterprises & Co-Chair of India-UK CEO Forum. #CNBCTV18 Exclusive #India & #UK #FTA. @ShereenBhan @FollowCII pic.twitter.com/7i43WHgPUG
— CNBC-TV18 (@CNBCTV18News) July 24, 2025
In an exclusive interview with CNBC-TV18, Mittal outlined how the FTA presents a significant opportunity for both nations, with India poised to gain substantially from increased British investment and enhanced access to technology.
UK investment to drive growth in IndiaMittal emphasised that “the bigger boost for India from the UK FTA will be in UK businesses investing in India.” He noted that UK goods worth $36 billion already enter the Indian market, and the FTA’s lower duty structure is expected to increase this flow.“UK companies will be incentivised to expand their presence in India and invest more in the country,” Mittal said, suggesting British firms will find India an increasingly attractive destination for business expansion under the new trade framework.A two-way track for investment
The agreement also opens new avenues for cross-border investments in both directions. “The FTA will allow more Indian companies to invest in the UK; I expect most of this will be through acquisitions of UK companies,” Mittal observed, indicating a strategic shift in how Indian businesses approach the British market.He expressed optimism about the prospects for Indian investors in the UK: “I see a much better roadmap for Indian investors after the FTA. Indians can come invest here, bring talent, and revitalise UK companies that have the technology.”Addressing competition concernsOn concerns about increased competition from British products, Mittal was reassuring: “British tariffs for Indian goods have always been quite low,” and “lower tariffs on Scotch, soda, soft drinks, automobiles are not a worry for Indian manufacturers.”He further explained, “India has nicely calibrated tariffs to protect Indian industry,” adding that “Indian industry need not worry about UK products coming to India.” Mittal attributed this confidence to the fact that “the cost of production in the UK is much higher, and it won’t be a cost-competitive matter for Indian products.”A landmark agreementIndia and the UK inked the landmark free trade pact on Thursday, which will increase market access and cut tariffs on British whisky, cars, and other items. The agreement aims to double bilateral trade by 2030 as the two strategic partners commit to charting a new growth path amid growing global concerns over Washington’s trade policies.“Today is a historic day in India-UK relations,” said Prime Minister Narendra Modi, who witnessed the signing of the trade pact alongside his British counterpart Keir Starmer at Chequers, the UK Prime Minister’s country residence.“After many years of hard work, a comprehensive economic and trade agreement has been inked between India and the UK,” Modi noted, highlighting the significance of this new chapter in bilateral ties.
Source link
