Archive · 25 Jul 2025
India-UK FTA Expected to Boost Professional Services for India
India and the UK are making it easier for businesses to work together.
This means more companies from both countries can offer services like accounting and consulting in each other's markets.
The deal helps Indian accountants by allowing them to work in the UK and vice versa.
While not all rules are the same, like those for official audits, the agreement should mean more business for Indian accounting firms.
They expect to gain more work because of India's skilled workers and lower costs.
A special group will help professionals from both countries get their qualifications recognized.
ICAI anticipates increased professional services work for India post-UK FTA.
FTA allows market access and national treatment for both nations' firms.
Statutory audit rights are not automatically reciprocal, unlike non-statutory services.
A Professional Services Working Group is established for qualification recognition.
ICAI ensured reciprocity and inclusion of cross-border supply in the agreement.
- Who
- ICAI, Indian and UK firms, and professionals in the accounting field.
- What
- Free Trade Agreement between India and the UK to boost professional services.
- When
- Published on July 25, 2025.
- Where
- India and the UK.
- Why
- To increase the volume of high-value professional services work flowing into India.
- Agreement
- India-UK Free Trade Agreement (FTA)
- Key Benefit
- Increased professional service work for India
- Scope of Agreement
- Market access and national treatment for firms.
- Focus Area
- Professional Services
- Organization
- Institute of Chartered Accounts in India (ICAI)