Daijiworld Media Network – Mangaluru (NJC)
Mangaluru, Jul 24: Calling the India-UK Free Trade Agreement (FTA) a "landmark, win-win partnership", british deputy high commissioner for Karnataka Chandru Iyer on Friday said the agreement is set to unlock unprecedented opportunities for Karnataka's exporters, startups, industries, and educational institutions while significantly strengthening bilateral trade between the two countries.
Addressing a press conference in Mangaluru, Iyer highlighted that the Comprehensive Economic and Trade Agreement (CETA) officially came into force on July 15, marking a new era in India-UK economic relations.
Describing the agreement as one of the most comprehensive trade deals signed by the two nations, he said it extends beyond conventional trade by incorporating dedicated chapters on digital trade, sustainability, gender equality, and support for small and medium enterprises (SMEs).
"The agreement took 14 rounds of negotiations across 30 chapters and has moved from signing to implementation in less than a year. Businesses in both countries can immediately begin benefiting from the new provisions," he said.
Iyer noted that bilateral trade between India and the UK has already grown from $43 billion to $48 billion, reflecting growing confidence in the partnership even before the agreement came into force. In the long term, the FTA is expected to generate an additional $25 billion in bilateral trade while providing a significant boost to the economies of both nations.
A major feature of the agreement, he said, is the reduction of trade barriers, with 99 per cent of Indian exports to the UK and 90 per cent of UK exports to India now enjoying zero or substantially reduced tariffs.
Highlighting Karnataka's strategic importance, Iyer said the state is expected to emerge as one of the biggest beneficiaries of the agreement owing to its diverse industrial base that spans agriculture, seafood, healthcare, aerospace, information technology, and advanced manufacturing.
Traditional products such as Mysuru sandal soap, Chikmagaluru coffee, Byadgi chillies, Channapatna toys, Mysuru silk, cashew nuts, and seafood from Dakshina Kannada are expected to gain improved access to UK markets under the new trade framework.
"Karnataka has a unique combination of traditional industries and cutting-edge technology sectors. This agreement creates enormous opportunities for businesses across every segment," he said.
The deputy high commissioner also underlined Karnataka's growing importance as a destination for British investment, noting that the state ranks as the third-largest recipient of UK investments in India. Leading British companies, including Tesco, Rolls-Royce, HSBC, London Stock Exchange Group, NatWest, and others, have established major Global Capability Centres (GCCs) in Karnataka.
He further pointed to strengthening people-to-people ties, revealing that direct weekly flights between Bengaluru and London have increased from seven to 34, significantly improving connectivity for business, tourism, and education.
Academic collaborations are also expanding, with institutions such as Imperial College London, the University of Liverpool, Lancaster University, and Birkbeck, University of London establishing research centres and campuses in Karnataka.
Iyer also highlighted the successful conclusion of the India-UK HealthTech Accelerator Programme, organised in collaboration with the Manipal Academy of Higher Education (MAHE). Around 30 promising Indian HealthTech startups participated in the three-day accelerator, during which UK experts mentored entrepreneurs on scaling their innovations internationally.
Following the programme, six outstanding startups working in areas including AI-driven healthcare, cancer detection, advanced diagnostics, and wearable medical technology will receive fully funded visits to the United Kingdom to explore business partnerships and investment opportunities.
To ensure that the benefits of the trade agreement reach grassroots entrepreneurs, the British Deputy High Commission is partnering with the Directorate General of Foreign Trade (DGFT) and the Karnataka government to translate trade-related information into Kannada and Tulu, enabling farmers, exporters, and small businesses to better understand export opportunities and tariff concessions.
He also announced that Karnataka will soon receive the first official consignment of Scottish salmon under the new trade framework, describing it as another milestone in the rapidly expanding India-UK trade relationship.
Concluding the interaction, Iyer expressed confidence that the agreement would not only deepen economic cooperation but also strengthen innovation, investment, education, and cultural ties, making Karnataka a key driver of the next phase of India-UK collaboration.