India-UK FTA would enable Indian firms to access new markets: TVS Motor

Chennai: The successful conclusion of the India-UK Free Trade Agreement, along with the double contribution convention, marks a 'significant milestone' and creates large opportunities for Indian companies to access new markets, a top official of city-headquartered two and three wheeler manufacturer TVS Motor Company said.

The FTA between the two countries would help our British brand 'Norton' to scale faster, TVS Motor Company Managing Director Sudarshan Venu said.

"We applaud our PM's (Narendra Modi) vision to enhance India's trade links globally. It creates large opportunities for Indian companies like ours to expand further and access new markets. We really appreciate the effort taken by the government to make this historic India-UK Free Trade Agreement," he said in a company statement on Tuesday.

"Our British brand 'Norton' will launch later this year and this agreement will help us scale faster and leverage common supply chains. We are excited as we further progress towards Viksit Bharat," he added.

India and the United Kingdom earlier in the day sealed a landmark free trade deal along with a double contribution convention, with Prime Minister Narendra Modi saying that the 'historic milestone' will catalyse trade, investment, growth and job creation in both economies.