JCB welcome landmark UK–India Free Trade Agreement
Company says FTA will open the door to much-improved trade between both countries
JCB have welcomed this week’s announcement of the landmark UK–India Free Trade Agreement (FTA) after the formal conclusion of talks between the United Kingdom and Republic of India.
JCB chief executive Graeme Macdonald said: ‘India is a great country in which to do business. JCB have been manufacturing machines there since 1979, so we know India very well and the opportunity for British businesses in that huge market is significant. It’s the fifth-largest economy in the world and is tipped to become the third-largest by 2028. This FTA should give British businesses the confidence they need to enter the market, trade more easily, and benefit from the massive opportunity.’
JCB chairman Anthony Bamford said: ‘I’m very pleased that the UK Government got this deal over the line. India is the world’s most populous country with over 1.4 billion people living in the world’s largest democracy. I know from JCB’s experience of making and selling machines in India that British businesses looking to trade with India will be welcomed with open arms. The opportunity is huge, and the FTA will open the door to much-improved trade between our countries – in both directions.’
