New potential for Indian businesses with UK Free Trade
NEW DELHI : The recent India-UK Free Trade Agreement (FTA) is a “game changer”, says global air and ocean freight specialist, Europa Air & Sea.
It’s a dynamic time for global trade, with trade agreements being negotiated among some of the world’s most lucrative markets to open up opportunities for developing economies following years of uncertainty.
For India, this includes a recently signed Free Trade Agreement (FTA) with the UK, marking a pivotal moment in bilateral trade. The agreement will cut tariffs on 99 per cent of India’s exports and reduce duties on UK goods by up to 90 per cent, which could grow to £25.5bn a year by 2040, unlocking significant opportunities for Indian exporters.
Puneet Mathur, Country Lead for India at Europa Air & Sea acknowledges the impact of this trade deal and suggests it will ‘level the playing field’ for India, currently the world’s fastest-growing economy.
Europa Air & Sea is part of one of the UK’s largest independent logistics operator, Europa Worldwide Group, and established its Delhi office in 2023, following a period of investment in growing its global footprint.
Angus Hind, Director of Europa Air & Sea, said: “Signing an FTA between the UK and India marks a significant shift in India’s trade relationships. This will have remarkable benefits for many fast-evolving Indian industries, notably textiles and automotive.
“Currently, India is the fourth largest exporter of textiles and fifth for automotive components to the UK. As one of the most lucrative markets for Indian exporters, the agreement is a strategic opportunity to improve India’s export business in sectors with significant potential.”
Angus continued: “We’re on the brink of an exciting horizon for Indian and UK trade, and at Europa we are pleased and equipped to support businesses with their supply chain needs.
The India team was established to combine a high-quality service level and consistent customer journey delivered at a local level, with the experience of a well-established global brand. Europa Air & Sea offer weekly Less-than Container Load (LCL) consolidated air and sea freight services to and from India, which it hopes to grow in light of the trade agreements.
With specialists on both sides of the operation in India and the UK, the team can quickly provide a customer with the right price for their shipment, removing any uncertainty and offering a seamless end-to-end service.
Between 2022 and 2024, Europa Air & Sea opened sites in the UAE, Shanghai, Shenzhen and Delhi, bringing its confidence, visibility and innovative services closer to local markets. Through its robust IT infrastructure, LeoWeb, advanced tracking capabilities and fast transit times, Indian businesses are afforded the opportunity to focus on their own growth.
Europa Air & Sea is part of Europa Worldwide Group, one of the largest independent logistics operator in the UK. The Group turns over 3,140 crore Rupees every year and also comprises Europa Road and Europa Warehouse.