New Delhi With the highest rate of AI skills penetration in the world, India is leading the way in forming the digital future of the world. Industry leaders stated on Wednesday that the UK will be able to fully recognize India as a crucial location for its students and talent to fulfill their aspirations in this field thanks to the Free Trade Agreement (FTA).

An important milestone that confirms the organic alliance between our two countries is the official signing of the India-UK Free Trade Agreement.

Significant economic gains will be unlocked right now by this comprehensive agreement, promoting more commerce in commodities, services, and—most importantly—technology. According to Keshav Murugesh, Chairperson of the CII UK India Business Forum, “the formalized partnership in key areas like AI will be a catalyst for innovation, creating high-skilled jobs and cementing the UK and India’s positions as global leaders in this transformative field.”

This FTA should be a launching pad for greater deeptech cooperation and skill mobility, especially for students and tech professionals. “This partnership has enormous long-term potential,” he said.

“The timing is ideal, since the FTA would increase India’s and the UK’s economic resilience by opening up new markets and lowering their susceptibility to outside shocks. In a world where trade tensions are rising, this is especially crucial, Murugesh said.

The FTA is a crucial catalyst for improving India’s reputation and economic prospects internationally in a number of areas, according to Ashok Chandak, President of IESA and SEMI India.

With development in design, testing, and embedded software fueled by cooperative R&D and collaboration—leveraging India’s engineering expertise and the UK’s design strengths—the services industry will also gain a great deal. This will assist entrepreneurs and innovators.

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Additionally, the FTA encourages cooperation in green electronics, improves supply chain resilience, and enables the flow of trained individuals.

Hundreds of thousands of employment in important industries will be indirectly created by the agreement in both nations.