Forever News
MumbaI: The Maharashtra Chamber of Commerce, Industries and Agriculture (MACCIA), representing over four million industries, MSMEs, and entrepreneurs throughout Maharashtra, is thrilled to announce the formal signing of the India–United Kingdom Free Trade Agreement (FTA). This marks a pivotal moment in India’s engagement with global trade.
Lalit Gandhi, President of MACCIA
On this significant occasion, Lalit Gandhi, President of MACCIA, expressed:
“We applaud the governments of India and the United Kingdom for reaching this historic agreement, demonstrating a strong commitment to mutual cooperation and long-term partnership. The India–UK FTA unlocks a wealth of trade, investment, and service opportunities — especially for MSMEs, manufacturers, and exporters in Maharashtra.”
This groundbreaking agreement was signed in London by Hon’ble Prime Minister Narendra Modi and UK Prime Minister Rt Hon Keir Starmer. It is anticipated to greatly enhance bilateral trade, simplify tariff structures, and promote deeper collaboration in key sectors like textiles, gems & jewellery, automobiles, pharmaceuticals, IT services, and fintech — all vital components of Maharashtra’s industrial prowess.
MACCIA is particularly enthusiastic about the agreement’s provisions that:
– Grant increased market access for Indian goods, with over 99% of exports to the UK becoming duty-free.
– Reduce high tariffs on gems, textiles, footwear, and auto components, providing a boost to traditional and emerging industries in Maharashtra.
– Facilitate the mobility of skilled professionals, benefiting IT, healthcare, and consulting sectors in the state.
– Encourage UK investments in Indian manufacturing, sustainability, infrastructure, and education.
As MACCIA proudly celebrates 100 years of service to Maharashtra’s trade and industry, it is poised to:
– Organize outreach and awareness initiatives about the FTA’s benefits.
– Assist member industries in capitalizing on new tariff lines.
– Promote joint ventures and B2B platforms between Indian and UK businesses.
– Collaborate with government departments to ensure effective implementation of the agreement at the state level.
Gandhi further noted: “This FTA transcends mere tariff reductions. It serves as a bridge fostering shared growth, sustainable innovation, and mutual prosperity. With its vibrant industrial ecosystem and progressive trade approach, Maharashtra is positioned to spearhead India’s FTA-driven export growth.”
MACCIA extends its congratulations to all stakeholders involved in the successful negotiation of this forward-looking agreement, eager to support the business community in realizing its full potential.
