Nasscom, FICCI hail UK FTA as India advances towards becoming a developed economy

New Delhi: IT industry’s apex body Nasscom on Wednesday welcomed the coming into force of the India–UK Free Trade Agreement (FTA), saying it will unlock opportunities across digital trade, investment, innovation, and talent mobility.

The industry body also welcomed the conclusion of a ‘Double Contribution Convention’ (DCC) that will let Indian professionals on short‑term UK assignments continue social security contributions in India, instead of the UK, for up to five years.

“To carry forward this momentum, Nasscom UK Forum was launched in November 2025, bringing together leading Indian technology companies with significant investments in the UK,” the statement said.

It noted that the DCC outcome was secured with support from the Government of India and said the convention will benefit Indian professionals on short‑term assignments to the UK.

The Forum will act as a strategic platform to deepen bilateral digital trade, advance the India–UK Technology Security Initiative and Vision 2035 roadmap, and strengthen engagement with governments, policymakers and innovation ecosystems, the statement added.

“As technology becomes an increasingly powerful driver of economic growth, Nasscom remains committed to working with both governments and industry to translate the FTA into tangible outcomes through greater trade, investment, innovation, and talent collaboration,” said Rajesh Nambiar, President, Nasscom.

The India–UK technology partnership is entering a new phase of growth. The NASSCOM UK Forum was created to provide a long‑term platform for industry and government to jointly shape the future of this strategic corridor, added Manish Malhotra, Chair, Nasscom UK Forum.

A sample of leading Indian technology companies alone supports more than 35,000 jobs across the UK, with nearly 62 per cent of employees based outside London- demonstrating a strong contribution to regional growth, local talent development, and AI capability building, Singh said.

Union Commerce and Industry Minister Piyush Goyal on Wednesday said the India-UK CETA, along with the Agreement on Social Security has become operational, providing zero-duty market access for nearly 99 per cent of India’s exports and covering almost 100 per cent of the trade value.

Anant Goenka, President, FICCI, said that “This landmark agreement complements the vision of Viksit Bharat, reinforcing the country’s aspirations for sustained economic growth, global competitiveness, and deeper integration with international markets”.

“As India advances towards becoming a developed economy, high-quality economic partnerships will play an important role in expanding business opportunities, strengthening industrial capabilities, and enhancing the country’s participation in global trade and investment networks,” said Goenka.

The agreement reflects a forward-looking approach to economic engagement and complements India’s journey towards greater prosperity, innovation, and economic transformation, according to the industry body.

IANS