New Delhi: India’s landmark free trade pact with the UK on 24th July 2025, Thursday was hailed by the industry leaders. Confederation of Indian Industry (CII) welcomed the India-UK Free Trade Agreement (FTA) and described it as a ‘Transformational Milestone’ in the bilateral economic relations.
The landmark free trade pact with the UK is said to benefit India significantly as the deal will ensure elimination of tariffs on approximately 99 per cent of tariff lines.
Prime Minister Narendra Modi and his British counterpart Keir Starmer today signed the historic trade deal. PM Modi is being accompanied by a business delegation including 16 key business leaders led by Sunil Bharti Mittal, Founder & Chairman of Bharti Enterprises and Co-Chair of the India-UK CEO Forum.
‘Indian industry welcomes India-UK FTA with great optimism’
Speaking on the occasion, Mr Mittal said, “Indian industry across all sectors welcomes the India-UK FTA with great optimism. This agreement establishes a modern, forward-looking partnership that will stimulate innovation, ease market access, and foster investment. Businesses in India as well as the UK stand to gain tremendously, as it lays the groundwork for scaling up bilateral cooperation across key growth sectors.”
India and the UK have been engaged in trade talks for the past five years. Both the nations aim to double bilateral trade to $120 billion by 2030.
Chandrajit Banerjee, Director General of CII, said, “CII has been a longstanding advocate for a comprehensive and forward-looking India–UK Free Trade Agreement. This FTA marks a defining moment in our bilateral relationship, reflecting a shared commitment to inclusive growth, economic resilience, and industrial transformation. It creates a strong foundation for deeper market access, regulatory cooperation, and next-generation partnerships between Indian and UK businesses.”
Meanwhile, Anish Shah, Group CEO & MD, Mahindra Group, also praised the India-UK FTA deal, saying this landmark pact marks a transformative moment in the global economic landscape.
“It’s not just a win for trade, but a blueprint for a modern, values-led partnership that puts innovation, sustainability, and inclusive growth at the heart of global collaboration,” Shah said.