A prominent figure in the UK's food and drink sector Dr. Jason Wouhra OBE, founder and CEO of Lioncroft Wholesale, has expressed strong support for the recently signed UK-India Free Trade Agreement (FTA), highlighting its immediate benefits for businesses and consumers alike.
In a reflective post on LinkedIn published today (May 30), Dr. Wouhra emphasised that any trade deal strengthening UK-India relations is inherently positive, particularly in the context of global trade uncertainties following the era of tariffs and protectionism.
He noted that the West Midlands, a region with significant Indian investment, stands to gain considerably from the FTA.
"Any deal that draws the UK and India closer together on trade can only be a good thing," Wouhra stated, referencing his experience as the inaugural chair of the West Midlands India Partnership.
While acknowledging that the current FTA may not be exhaustive, Wouhra believes it lays a solid foundation for future negotiations and has already begun to yield positive outcomes.
He revealed that at Lioncroft Wholesale, the agreement has led to a reduction in the cost of importing goods from India, a development that benefits not only the company but also its customers and end consumers through lower prices and increased product variety.
"This FTA should lead to quality goods at a cheaper price on the shelves of stores, giving shoppers a wider, more competitive choice," he remarked.
"So in just one small, practical example, this FTA should lead to quality goods at a cheaper price on the shelves of stores to give shoppers a wider, more competitive choice. I am certain other businesses will have similar, positive stories starting to flow through," he wrote.
Dr. Wouhra also commended the cross-party efforts that brought the FTA to fruition, praising both the previous Conservative government for initiating the talks and the current Labour government for finalizing the deal.
He wrote, "I think it's very important therefore to pay tribute to both the previous Conservative Government for starting the talks and progressing the deal, and of course the current Labour Government for picking up the baton and being the ones to get this deal signed and delivered.
"A great cross-party effort. But there also needs to be a special mention for Harjinder Kang, the former chief negotiator for the UK-India FTA and the real architect of the deal we now have in place. A great man with strong ties to our home here in the West Midlands."
Challenges Remain for UK Businesses
Despite the positive developments, Wouhra remains realistic about the challenges businesses face, noting that the FTA does not offset recent cost increases, such as the rise in employers' National Insurance contributions. Nevertheless, he views the agreement as a tangible example of how government-negotiated trade deals can have a meaningful impact on UK businesses.
"It's an encouraging sign that these deals the Government is negotiating across the globe are not just a PR exercise and can have a tangible impact on UK business," he concluded.
