The Federation of Indian Export Organisations (FIEO) has said that the proposed trade pact between India and the UK is likely to benefit labour-intensive sectors such as textiles, leather, gems and jewellery, pharmaceuticals, marine and engineering goods. The agreement will be signed on July 24, during Prime Minister Narendra Modi's visit to the UK. It is expected to help double bilateral trade by 2030 to $120 billion.

The exporters' body also said that the agreement is likely to eliminate tariffs on Indian garments and textiles, enhancing their competitiveness in the UK market. It will also strengthen exports in high-value sectors like gems and jewellery and pharmaceuticals.

It further said improved market access and reduced tariffs will further benefit Indian leather and footwear, auto components, spices, tea, and processed foods, and added that the FTA is also expected to streamline regulatory approvals for Indian pharmaceutical products in the UK. FIEO President S C Ralhan said it could ease mobility and open up new opportunities for Indian IT, business services and professional services firms.