Hyderabad, July 3, 2025: The Free Trade Agreement (FTA) between India and the United Kingdom (UK), expected to be signed by the end of this year or early next year, is going to lead to at least 50 per cent jump in bilateral trade which at present stands at around £43 billion. This was shared by Mr Gareth Wynn Owen, British Deputy High Commissioner for Telangana, Hyderabad. He was speaking at an interactive session in a city hotel on the Impact of India-UK FTA on Indian businesses and trade, organised by the Telangana chapter of PHD Chamber of Commerce and Industry (PHDCCI) here on Thursday.
Present on this occasion were Mr. Akshay S C, Joint Director General of Foreign Trade (DGFT), Ministry of Commerce, Hyderabad; Mr Hemant Jain, President, PHDCCI; Mr Gautam Chand Jain, Chair, Telangana chapter, PHDCCI; Dr Ranjeet Mehta, CEO & Secretary General, PHDCCI; Prof. Chetan Srivastava, Director, Office of International Affairs, University of Hyderabad; Ms Shalini S Sharma, Assistant Secretary General, PHDCCI; Ms Khyati Amol Narvane, Vice President, Quantra Quartz and Dr Subhash Mehta, Deputy Secretary, PHDCCI.
PHDCCI, one of India’s oldest industry bodies, headquartered in New Delhi and celebrating its 120th anniversary this year, had set up its Telangana chapter in 2024 with Mr Gautam Chand Jain, Chairman & Managing Director of Pokarna Group, as the Chair. Mr. Jain brings over five decades of experience in the fashion and stone industry and is widely recognised for his leadership and business acumen. He lauded the good and active work being done by PHDCCI at the national level. A veteran of several industry bodies, Mr Gautam C Jain said that PHDCCI was by far the most active industry body that he had seen.
Speaking on the occasion, Mr Akshay SC stressed that the Government did not look only at income from exports as an outcome of the FTA. An equal focus, he said, was on job creation and skill development as the expansion of trade would automatically create more employment and in turn spur skill building. He identified pharmaceuticals, textiles, IT services, gems & jewellery as key sectors likely to benefit from the agreement.
Mr. Hemant Jain outlined PHDCCI’s vast national presence across 30 states and UTs, covering 55 industry verticals and over 1.5 lakh members. He emphasised the importance of chambers in shaping policies and noted that the IT sector, through its representative industry body, had succeeded in getting a clause amended through the FTA, which related to social security contributions by IT professionals who go from India to work in the UK. Similarly, he said, other industry verticals could make use of bodies such as PHDCCI to get their grievances addressed by relevant policymakers.
Prof traced the historical trajectory of India-UK relations and reflected on the evolving geo-economic dynamics likely to shape the coming decades.
Dr. Ranjeet Mehta underscored India’s demographic advantage and English-speaking workforce. He said, “Despite global disruptions, India remains one of the fastest-growing economies. The FTA offers a golden opportunity for our 65 million MSMEs.” He highlighted that the UK’s advanced technologies could help India achieve its Net Zero commitments by 2070.
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