Today’s signature of a UK-India FTA, the result of more than three years of complex negotiations, represents a historic first step in strengthening our already close automotive trade and investment ties and opening up mutual opportunities.
While the agreement will likely feature compromises, and might not offer unfettered market access to all UK automotive goods, we appreciate the considerable effort British negotiators have devoted to secure the first partial liberalisation of the Indian automotive market.
We trust the deal will be fair and deliver on essential UK industry priorities, with major tariff reductions on most UK automotive exports, favourable origin requirements and a workable agreement on future bilateral trade of electrified vehicles.
Mike Hawes, SMMT Chief Executive
SOURCE: SMMT
