Reacting to the UK-India trade deal entering into force, Steve Lynch MBE, Director of International Trade at the British Chambers of Commerce, said:
“It has been a tough few years for UK traders but there is a real buzz among businesses about this deal entering into force. It is a genuinely exciting milestone.
“Trade between our countries is already substantial, and we now have a real opportunity to build further momentum. It is an important new chapter that can bring many more businesses into the relationship and unlock the next wave of trade, investments and partnerships.
“India has shot up the agenda for British businesses, but there is still a significant gap between many SMEs’ interest in the market and their actual exports.
“No free trade agreement is a silver bullet. It will only deliver growth if businesses understand it, use it and have the confidence, capability and connections to turn it into real sales.
“Chambers across the UK and our in-country affiliate, the UK India Business Council, are now starting the real work of turning this policy into practical delivery.
“We are working closely with the Indian High Commission and partners in both countries to develop a UK–India Trade Accelerator. Once established, this will give ambitious firms the market insight, regulatory guidance, trusted relationships and in-market support they need to succeed.
“The real prize sits on top of the 2,000 plus pages in the trade agreement. It is more British businesses exporting to India, building lasting partnerships and converting the enormous potential of the deal into real jobs, investment and growth.”