Airbus, Rolls Royce among 26 UK firms to clinch deals as India-UK FTA opens
London: European aerospace major Airbus and British luxury carmaker Rolls Royce are among 26 UK-based firms to have secured high-value business deals following the signing of the India-UK Free Trade Agreement (FTA) on Thursday afternoon, media reports said.
Airbus, headquartered in Blagnac, France, and Rolls Royce, based in Derby, UK, will supply aircraft and engines to Indian carriers under contracts worth nearly £5 billion, NDTV reported.
The deals are expected to significantly benefit both economies—ensuring timely delivery of aircraft and components for India’s fast-growing aviation sector, while supporting thousands of skilled jobs in the UK.
A wide range of UK companies across sectors have also committed to new investments in India. Among them is Carbon Clean, a carbon capture technology firm originally founded in India in 2009 and now headquartered in London.
The company will invest £7.6 million in a new office in Mumbai.
Occuity, a UK-based med-tech company that designs non-contact optical devices for eye diagnostics, has signed a £74.3 million export agreement with India’s Remidio Innovative Solutions.
Johnson Matthey, a British specialty chemicals firm, has secured contracts valued over £20 million. It will also invest £4 million in India and support up to 20,000 jobs.
The Marcus Evans Group, a global business intelligence and events firm, will establish a Mumbai office with an export and investment pipeline of £69 million over the next five years.
On the other hand, 18 Indian companies have announced fresh investments in the UK.
These include DCube AI, an AI firm from Kerala, which will invest £5 million in its operations across Manchester and London.
IT consulting and services firm LTIMindtree will pump £1 million into expanding its London base, creating more than 300 jobs.
Meanwhile, Aurionpro, a technology firm specialising in banking and cybersecurity, will invest £20 million to establish a UK office, generating over 150 new jobs.
The "historic" trade pact was signed by Prime Minister Narendra Modi and British Prime Minister Sir Keir Starmer in London on Thursday morning. Modi is currently on a two-day official visit to the United Kingdom.
The agreement is poised to drive growth across both manufacturing and services sectors, delivering tens of thousands of jobs while also boosting Indian agricultural exports.
It eliminates tariffs on 95% of farm and processed food items exported to the UK, offering Indian farmers access to premium global markets.
Products such as turmeric, pepper, cardamom, mango pulp, pickles, and pulses are expected to gain from the duty-free access, potentially increasing margins for Indian farmers.
In return, British imports will enjoy duty-free entry into India’s vast consumer market. However, the deal exempts concessions on dairy items, apples, oats, and edible oils, in order to protect the interests of domestic farmers.
The FTA will also benefit India's fisheries sector, especially in coastal states like Andhra Pradesh, Odisha, Kerala, and Tamil Nadu. Marine exports such as shrimp, tuna, and feeds—currently subject to tariffs between 4.2% and 8.5%—will now be exported to the UK without duties.
Speaking after the signing, Modi said the agreement would help reduce the "cost of doing business" and enhance the "confidence of doing business" between the two major economies, contributing to a more robust global economic order.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
