‘Reducing import tariffs on inputs under India-UK FTA can help attract more UK investments’

Slashing of import duties on inputs such as auto parts and bulk alcohol by India, under its proposed Free Trade Agreement with the UK, can help it attract more investments from British companies which have alternative destinations to chose from such as Vietnam and Thailand, according to Kevin McCole, Managing Director, UK India Business Council.

 “UK companies are already major investors in India but there is an appetite to invest much more. Investment decisions are a major call taken by a board and companies are looking at many options such as Thailand, Vietnam or China…Tariff reduction on inputs as part of the FTA can facilitate those investments into India,” McCole said in an interview to BusinessLine. There are more than 500 UK companies operating in India employing over 4 lakh people directly.

Boosting bilateral trade

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