New Delhi, July 28 (UNI) The Society of Indian Automobile Manufacturers (SIAM), the apex national body representing major vehicle and vehicular engine manufacturers, has applauded the India-UK Free Trade Agreement (FTA).
The deal is widely regarded as one of the most comprehensive bilateral economic ties for promoting trade between the two countries. This agreement aims to reduce tariffs, facilitate investment, and drive inclusive development.
Shailesh Chandra (President, SIAM) termed this deal a transformational development in strengthening Indian ties with global economies, especially the developed ones.
SIAM’s president also stressed the Government’s stakeholder consultations throughout the trade negotiation process. The President also highlighted India’s strong positioning in global leadership as the finalization of the trade agreement took place amid global trade uncertainties.
Shailesh Chandra also pointed out SIAM’s commitment to work closely with the Government of India for translating the benefits of this trade agreement at the ground level for fostering growth, competitiveness, and technological progress for the Indian automobile Industry.
