New Delhi, July 15: The Federation of Indian Chambers of Commerce and Industry (FICCI) welcomed the implementation of the India-UK Comprehensive Economic Partnership Agreement (CEPA) on Wednesday. They stated that this significant agreement will open new opportunities for the Indian industry, enhance competitive capabilities, and strengthen the country’s participation in the global value chain.
Congratulating Prime Minister Narendra Modi on the agreement’s implementation, FICCI Secretary General Anant Swaroop emphasized that the India-UK CEPA will create new business opportunities in both goods and services sectors.
Swaroop remarked, “On the implementation of the India-UK CEPA, FICCI extends heartfelt congratulations to PM Modi. This agreement will unlock new opportunities for the Indian industry in both goods and services. Collaboration in innovation, technology, and talent mobility will enhance the competitive capacity of Indian industries.”
He described this agreement as a crucial milestone in India’s free trade agreement (FTA) journey. He noted that it will increase the country’s participation in the global value chain and promote innovation-based growth in both India and the UK.
FICCI President Anant Goenka stated that this important agreement will bolster India’s aspirations for continuous economic growth, global competitiveness, and deeper integration with international markets, thus supporting the vision of a ‘Developed India.’
Goenka added, “As India progresses towards becoming a developed economy, high-quality economic partnerships will play a vital role in enhancing business opportunities, strengthening industrial capabilities, and increasing the country’s participation in global trade and investment networks.”
According to the industry body, this agreement reflects a visionary approach to economic engagement and will support India’s journey towards greater prosperity, innovation, and economic transformation.
The India-UK FTA came into effect on Wednesday, granting duty-free market access for nearly 99 percent of India’s exports, encompassing approximately 100 percent of the bilateral trade value.
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