India and UK Trade to Hit $120B with FTA Boost, Says Mittal

India-UK Free Trade Agreement (FTA) will open major manufacturing opportunities for British businesses in India and is likely to double bilateral trade to $120 billion within five years, said Sunil Bharti Mittal, Chairman of Bharti Enterprises and Co-Chair of the India-UK CEO Forum.

Mittal said the new tariff regime of the FTA and ease of mobility between the two countries make India a very desirable manufacturing hub for UK companies. "With duties now transparent and the country open for business, decision-making in UK boardrooms will be much more in the direction of locating in India," he said.

Completed after 14 rounds of talks over three years and four UK prime ministers, the FTA brings down Indian tariffs on average UK imports from 15% to 3%. Although certain sectors like automobiles and alcoholic beverages had raised some issues, Mittal insisted these have been carefully calibrated so that domestic interest is safeguarded.

The pact is likely to deepen cooperation in the areas of defense, space, advanced technologies, and education. "The UK brings deep technologies, and India brings scale, talent, and low-cost manufacturing — together they are a force multiplier," said Mittal. The FTA also eases mobility norms for Indian professionals across sectors, including healthcare, education, and the arts.

Also Read: India-UK FTA 2025, Tariff Cuts, Big Gains, and What's Next?

On the investment side, Indian companies such as TVS, Kama, Nykaa, and Forest Essentials are increasing UK presence through acquisitions.

DG of CII Chandrajit Banerjee pointed out that four universities in the UK have already made a presence in India, allowing joint degrees and academic collaborations, further solidifying bilateral relations.