'Will stimulate innovation, ease market access'

NEW DELHI: Industry hailed the India-UK trade pact, saying it will reduce barriers, enhance confidence and boost JVs and technology transfers.

"This agreement establishes a forward-looking partnership that will stimulate innovation, ease market access, and foster investment. Businesses in India and the UK stand to gain, as it lays the groundwork for scaling up cooperation across key growth sectors," said Bharti Enterprises chairman Sunil Mittal.

Shahi Exports MD Harish Ahuja, who leads Ficci's foreign trade & trade facilitation committee, added the agreement will boost India's export competitiveness, particularly in labour-intensive sectors including textiles and apparels.

"Assocham believes the deal will not only boost export potential and manufacturing competitiveness, but also open new growth avenues in innovation & services," said industry body's chief Sanjay Nayar.