Mumbai, Oct 13 (IANS) Industry leaders and UK officials on Tuesday hailed the India-UK Free Trade Agreement (FTA) as a significant milestone that will boost bilateral trade, facilitate investment and create new growth opportunities for businesses in both countries.

Speaking to IANS on the sidelines of an event here, Bentley Motors Board Member Axel Dewitz said the agreement was a major success for both nations and would help expand trade and commercial engagement.

"This is a great success for both countries, indeed, and there is no doubt about that. What has been achieved will open up trade, which is also why I am here and Bentley is here. Bentley is here for the long term. Based on the FTA, having taken first steps months ago, we have now restructured our retailer base in India," he said.

"We have a great partner in Delhi, a great partner here in Mumbai, and another one in Bangalore, and that will foster sales. On top of that, our products will be more achievable for everyone here in India, and that is a great success for the political entities that have made that possible," he added.

Carbon capture technology company Carbon Clean also welcomed the agreement, saying it would make cross-border business operations more efficient. Chief Executive Officer Guy Mansfield said the company has operations in both the UK and India, manufacturing equipment in the UK while running its innovation centre in Navi Mumbai.

"In the UK, we're manufacturing the equipment to enable us to do the carbon capture, and in India, we have our innovation center in Navi Mumbai. So, with this trade agreement, we feel that things are facilitated, doors are opened, and trade becomes much easier between the two countries," he told IANS.

Highlighting the growing momentum in bilateral relations, UK's Trade Commissioner for South Asia and British Deputy High Commissioner to Western India Harjinder Kang said the UK had brought one of its largest-ever business delegations to India.

The delegation includes three UK Secretaries of State, several regional mayors and around 200 British businesses seeking to explore opportunities in the Indian market.

Kang said the strong representation reflects the importance the UK places on its economic partnership with India and the growing interest among British companies in expanding their presence in the country.

"We have seven regional mayors and one chair of a local authority, and something like 200 businesses have come to visit India from the United Kingdom," he mentioned.

--IANS

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