India grants UK access to £38 bn Indian procurement market under FTA

India grants legally guaranteed access to UK firms for 40,000 tenders annually under FTA, offering preferential status in government procurement

In a significant concession to the United Kingdom (UK) under the just-concluded free trade agreement (FTA), India has granted “legally guaranteed access” to its vast government procurement market. This will allow British businesses to bid for around 40,000 Indian tenders with a value of at least 38 billion pounds a year, according to the UK government.

 

“For the first time, the UK businesses will be able to compete for a broad variety of goods, services and construction procurements, for a majority of central government entities in India, as well as for several of India’s federal state-owned enterprises at thresholds lower