Experts said that since the service sector does not come under the purview of the EU-UK agreement, India could explore opportunities in service sectors such as IT, architecture, research and development and engineering in both sectors.
- Indian goods will not benefit much from UK-EU deal, but we can benefit from services sectors in both markets
- We will gain more in the UK market by compromising, as we are an English speaking country.
Rakesh Mohan Joshi, a professor at the Indian Institute of Foreign Trade (IIFT), also said that India will be more comfortable in meeting the demand of both regions after entering into trade deals with the EU and the UK.
UK exits EU on 31 December
Apparel Export Promotion Council (AEPC) chairman A Shaktivel said that having an FTA with the UK would help end the hassle of customs duty to Indian traders in the UK. Britain reached a historic post-Bregit agreement with the European Union on Thursday.