India–UK FTA May Double Trade To USD 115 Bn By 2030: Assocham

New Delhi, Jul 25 (KNN) The implementation of the India–UK Free Trade Agreement (FTA) is expected to significantly boost bilateral trade, with exports projected to reach USD 115 billion by 2030, according to an industry study released by Assocham on Friday.

The agreement, which came into force on July 15, is expected to nearly double total trade from an estimated USD 58 billion in 2025–26 to USD 115 billion by the end of the decade. The study also projects the creation of 700,000 to 1 million new jobs as trade expands.

Assocham noted that achieving these targets will depend on India’s ability to maintain competitiveness in global markets. Businesses will need to comply with stringent product quality standards, certification requirements, rules of origin norms and international sustainability benchmarks, PTI reported.

Need for Structural Reforms

The industry body emphasised that continued improvements in ease of doing business, along with investments in infrastructure and supply chains, will be critical to meeting these requirements.

Assocham President Nirmal K Minda said such reforms would help Indian firms fully utilise the opportunities created by the agreement.

Sectoral Impact

The engineering goods sector is expected to be among the key beneficiaries of the FTA, with potential spillover benefits for micro, small and medium enterprises (MSMEs). This, in turn, could support employment generation across related industries.

(KNN Bureau)