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FTA With India Brings 'Genuine' Competitive Advantage, UK Parliament Told
- The UK-India Free Trade Agreement (FTA) is expected to bring a 'genuine' competitive advantage for the UK in the manufacturing sector.
- The FTA is projected to increase UK GDP by GBP 4.8 billion and wages by GBP 2.2 billion annually over the next decade, slashing tariffs and boosting bilateral trade.
- UK Business and Trade Secretary Jonathan Reynolds highlighted the economic benefits of the FTA, emphasizing the advantageous positions in advanced manufacturing.
- The deal with India is considered the best ever offered by India, leading to a significant economic win for the UK.
- The upcoming UK-India Week, part of the India Global Forum summit in London, will focus on the FTA, with Minister of Commerce and Industry Piyush Goyal as a key speaker.
- The 'India Meets Britain Tracker' 2025 edition will be launched, analyzing Indian investment flows into the UK.
- Indian companies are increasingly contributing to the UK's growth and innovation, showcasing maturity and confidence on the global stage.
- The Tracker reveals insights into the strategic investment corridor between the UK and India, showing a growing trend of Indian-owned companies operating in the UK.
- Indian businesses are not only investing abroad but also playing a transformative role in global economies, according to IGF founder Manoj Ladwa.
- The FTA between India and the UK aims to boost the UK's GDP and wages significantly over the next decade by slashing tariffs.
- The FTA negotiation positions the UK favorably in sectors like automotive and machinery, enhancing competitiveness.
- The India-UK FTA aligns with the upcoming UK-India Week agenda to strengthen economic ties between the two countries.
- The annual 'India Meets Britain Tracker' highlights the growing diversification, scale, and resilience of Indian companies investing in the UK.
- The trade deal is part of efforts to celebrate the collaboration between India and the UK, marking economic milestones.
- The UK and India, ranking as the sixth and fourth largest economies, respectively, are key players in the world's strategic investment realm.
- Indian companies continue to transform global economies and drive job creation and innovation in the UK.
- The FTA signifies a significant economic opportunity for both countries, paving the way for increased bilateral trade and investments.
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