Businesses from the UK are deepening their engagement with Indian medium, micro and small enterprises (MSMEs) with 58% of UK firms in India are classified as MSMEs, a report by Grant Thornton shows.
Sectoral Breakdown of UK MSME Presence
Within India’s MSME segment where UK firms are present, the industrial products sector leads with 20.68% of total turnover, followed by energy and natural resources (14.6%), media and telecom (13.71%), business services (13.53%), technology (9.58%) and financial services (8.6%).
FTA to Accelerate Trade in High-Growth Sectors
The Indo-UK FTA signed in July this year has opened up new opportunities for UK SMEs in sectors such as clean energy, health tech, advanced manufacturing. The FTA aims to double bilateral trade to $120 billion by 2030
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