There is already "euphoria" within industry over the possibilities opened up by the India-UK free trade agreement, and economic growth for both countries is an inevitable outcome of the pact coming into force this month, according to an industry expert.
The UK-India bilateral Comprehensive Economic and Trade Agreement (CETA) was signed last year and will enter into force on July 15.
Kishore Jayaraman, Group CEO of the UK India Business Council (UKIBC), said he remains "very bullish" about India and the UK being a "formative force into the future" as a result of the pact.
"India offers capacity and capability, so scalability for businesses that want to scale up in the Indian market just gets that much easier," Jayaraman told in an interview.
"I think this is a celebration for SMEs, startups, and for creative people to scale themselves through the capacities and capabilities that India offers and go to the next level of their businesses," the industry leader said.
"They should be stepping up, understanding what it means, developing a business plan that includes India in their roadmap, and eventually grow, because growth is but inevitable through this agreement," said Jayaraman, who is also a former president of Rolls-Royce in India.
