India-UK trade deal to usher in economic cooperation, tech partnerships: ACMA

New Delhi, Jul 24 (PTI) The India-UK trade deal is expected to usher in a new era of economic cooperation, foster greater market access, technology partnerships, and value chain integration between the Indian and British automotive industries, the Automotive Component Manufacturers Association of India (ACMA) said on Thursday.

The pact, officially called the Comprehensive Economic and Trade Agreement (CETA), was signed in London on Thursday in the presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer.

"The CETA is expected to benefit the Indian auto component sector through enhanced opportunities for exports, streamlined regulatory processes, particularly in key areas such as electric mobility, precision engineering, and lightweight materials," ACMA President Shradha Suri Marwah said in a statement.

Indian MSMEs, which form the backbone of the auto industry, stand to gain from the liberalised terms of trade and improved access to UK markets, she added.

"We are hopeful that the agreement will also promote collaboration in R&D, skilling, and innovation, especially in green and digital technologies—areas that are crucial for our sector’s long-term competitiveness and sustainability," Marwah noted.

The industry looks forward to working with counterparts in the UK to realise the full potential of this partnership, she added.

TVS Motor Company said the trade deal is poised to open new global frontiers for Indian manufacturing and design, especially under the Government of India’s flagship ‘Make in India’ initiative.

For TVS Motor Company, the agreement comes at a pivotal time as it prepares to launch a new line of Norton Motorcycles in the UK, following its strategic acquisition of the iconic British brand, it added.

The signing of the India-UK CETA follows the successful conclusion of negotiations announced on 6th May 2025.

The bilateral trade between the two countries stand at nearly USD 56 billion, with a joint goal to double this figure by 2030. PTI MSS MSS MR