The Confederation of British Industry (CBI) has launched its first-ever business delegation to explore free trade agreement opportunities in India.
The delegation is focusing on key growth sectors where Indian and UK businesses can develop profitable partnerships such as innovation and sustainability.
The visit also aims to share knowledge on how to scale up unicorns to addressing ways to increase trade in green goods and services between the two countries and contribute to net zero ambitions.
This visit comes in the backdrop of the UK’s negotiating the seventh round of the free trade agreement with India. The potential FTA could boost trade with India by several billion pounds a year by 2035 and increase wages across the UK. With a free trade deal between the UK and India soon to be signed—and agreements such as the UK-India Young Professionals Mobility scheme already in place—UK businesses want to explore how to grasp the huge opportunities that India affords.
The CBI’s first ever delegation to India will put the promise of an FTA into practice—helping businesses develop links with key stakeholders and supporting UK firms to go for growth around the world. UK firms feel since India is on track to become the third largest economy, with a quarter of a billion middle class consumers by 2050, the free trade deal could unlock huge benefits for them.
