“India may do for Scotland what China did for fashion”: NSE Ashish Chauhan leader in the UK to play FTA Play

The proposed free trade agreement of India (FTA) with the United Kingdom is more than just an economic partnership – it is a political geographical signal, according to Ashish Chauhan, CEO of the National Stock Exchange (NSE). Speaking to Business Today, Chauhan highlighted how the deal is not only accelerating bilateral trade, but also India and the United Kingdom are placed within the changing global alliance structure, it skillfully runs out of China.

“Nearly 99 % of all exports from India will be a zero tax,” Qohan said. “This also tells you that the UK is heading alongside the United States against China.” He suggested that the free trade agreement in India and the investment agency be a broader or “template” for the ongoing commercial talks of India with the European Union, the United States and other partners.

Currently, India’s trade is about $ 56 billion. Under the Free Trade Agreement, the goal of paying this number is between 120 billion dollars and 140 billion dollars within five years – an ambitious goal that means an annual growth rate of more than 18 %. Chahhan stressed that the agreement is not only related to alleviating customs tariffs, but also about the basis for India’s role in reorganizing the global supply chain after China.

The Free Trade Agreement includes major victories for the services sector in India, with a $ 10 billion trade surplus with the United Kingdom. According to Tchhuhan, the strength of India in services “is the place where many professionals must work in other countries sometimes taxes on the social security that falls in the local cat.” The deal will exempt the Indian professionals from paying the social security tax in the United Kingdom for a period of up to three years – where the money is estimated at about 4000 rupees annually.

The visas are also a decisive column. Indian professionals can now work in the UK for 18 months without having a local office. “Many Indian professionals are allowed to enter the United Kingdom,” Zhuhan said, describing the liberated system as “very favorable.”

He also drew attention to opportunities in both directions – including the possibility of obtaining traditional brands in the United Kingdom. “It will be interesting for the Scotch -owned script for India from India from the United Kingdom.” But he also pointed to a possible reverse direction: “The Indians can do the Scottish whiskey what China did to the Italian fashion industry – and it indicates manufacturing and production companies.”

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This comparison tells. For decades, China has gained foreign brands and supply chains strategically, and includes itself deeper in Western consumer markets. India, which now benefits from its demographic scope and its diplomatic reorganization, may look forward to repeating – and redefining – that strategy on its own conditions.

Behind alcohol, the deal also opens a large reach in pharmaceutical products, agriculture, fisheries, textiles and leather. Chahhan described the free trade agreement as a long -awaited alignment of commercial interests, which are “degrees of India” in the sectors where the country was historically strong, but it is less than others.