Key members of MGI Worldwide from India give their thoughts on navigating these changes.

The negotiated India-UK Free Trade Agreement (FTA) marks a significant milestone in the strengthening of economic ties between the two nations. For professionals and businesses in India, the FTA presents exciting new opportunities to engage in cross-border trade, investment, and professional collaboration. Key members of MGI Worldwide from India are already gearing up to navigate these changes and seize the potential the agreement holds.

A new era of cross-border professional collaboration

The India-UK FTA is set to transform the professional services landscape, especially for the accountancy and finance sectors.  

Professionals from both countries stand to benefit from enhanced mobility and mutual recognition of qualifications, which will enable easier collaboration and knowledge exchange.  

Kuunal Gohil, partner at KDP Accountants, explains that the potential for recognition of Indian qualifications in the UK is a major opportunity. 

This will allow Indian professionals to offer their services to UK clients while also collaborating with UK professionals, opening the doors for mutual growth and the exchange of expertise. 

“We see this as an opportunity to work more closely with professionals in the UK, providing high-quality services to clients while reducing the barriers that have traditionally hindered cross-border mobility,” says Gohil.  

He envisions a future where Indian Chartered Accountants and UK professionals can work side by side, enhance service delivery and create stronger partnerships. 

Anuj Sharedalal, a partner at C.R. Sharedalal & Co, added: “Indian accountancy firms are actively exploring the opportunities emerging from the India–UK FTA.  

“The agreement promises to simplify regulatory frameworks, reduce tariffs, and enhance ease of doing business across borders.  

“For professional services, and particularly for accountancy, this means greater collaboration, knowledge sharing, and cross-border service delivery.”

A boost for Indian exporters

For Indian exporters, the FTA provides a valuable opportunity to expand into the UK market.  

The zero-duty access granted to 99% of Indian exports to the UK will significantly benefit sectors such as textiles, engineering goods, and auto parts. Amit Chopra, director of GCA Associates Private Limited, is excited about the potential impact of this provision. 

“The zero-duty access is a game changer for Indian exporters,” says Chopra. “It allows businesses to target the UK and European markets without worrying about tariffs, and this will undoubtedly fuel growth in key sectors, including textiles, apparel, and automotive parts.” 

Chopra’s company has already seen an increase in inquiries from clients looking to explore new business opportunities in the UK. He said: “Our firm is sector-agnostic, working extensively with buying agencies, exporters, and private equity funds. We’ve already begun analysing the FTA’s likely impact for our UK, Indian, and other international clients, drawing on our experience with earlier trade pacts such as the India–UAE CEPA and the India–Australia ECTA. In both cases, we saw a rapid rise in cross-border investment and trade flows, enabling us to identify and capture early-stage opportunities for clients.” 

Indian textile exporters, for instance, are exploring partnerships with UK distribution channels to offset rising US tariffs, while manufacturers are considering setting up production facilities in India to take advantage of zero-duty access to the UK. 

Similarly, C.R. Sharedalal & Co. is seeing a similar increase. Anuj said this was particularly true of “Indian mid-market companies and startups exploring the UK as a launchpad into Europe. Likewise, UK-based clients are showing renewed interest in setting up or expanding their operations in India, given the favourable trade terms.”  

He added: “We have also observed a growing interest from UK-based Chartered Accountancy firms in outsourcing services such as bookkeeping, auditing, forensic accounting, taxation and other related support functions.”

Strengthening cross-border partnerships

The FTA’s provisions extend beyond trade and taxation. They include opportunities for Indian professionals to work in the UK without the need for additional qualifications or exams.  

This mutual recognition of qualifications, if formalised through Mutual Recognition Agreements (MRAs) between Indian and UK professional bodies, would allow Indian Chartered Accountants to practice seamlessly in the UK. 

Ankith Shetty, partner at B.C. Shetty & Co., highlights the potential of such an arrangement, which would reduce procedural hurdles for Indian professionals looking to expand their reach in the UK. He said: “Such recognition would also enable collaborative secondment programmes, where Indian CAs could be placed on temporary assignments in the UK during off season in India.  This would give UK MGI Network firms, access to highly qualified professionals at competitive costs, while enhancing service quality and turnaround times”. 

“Beyond individual opportunities, this development could drive deeper Indo-UK professional collaboration through joint audits, cross-border consulting, and knowledge exchange, creating a more integrated, globally connected professional services network capable of meeting complex multinational client needs.” 

Amit agrees, saying: “The proposed Mutual Recognition Agreements (MRAs) between the Institute of Chartered Accountants of India (ICAI) and UK bodies such as ICAEW and ACCA could be a game changer for professional mobility.”  

If finalised, they would allow Indian Chartered Accountants to register and practise in the UK on a reciprocal basis without duplicative examinations, subject to MRA terms and regulatory approvals. 

“The recognition of Indian accounting standards, which are largely aligned with the UK’s IFRS framework, further enhances the potential for Indian professionals to deliver high-quality services in financial audits, reporting, and consultancy”  says Amit.

Anuj agrees, adding that it will help to “foster deeper technical exchange and open doors for Indian CAs to contribute directly to UK markets”. 

In February 2025, he was part of a trade delegation to the UK, which sought to explore investment opportunities and gaining deeper insights into the UK market.  

This visit has already resulted in several meaningful partnerships with key agencies across the UK, which the firm are actively leveraging to better support clients in expanding their global footprint and navigating cross-border opportunities.

MGI Worldwide: Supporting clients in maximising the FTA benefits

As businesses and professionals prepare for the changes brought by the FTA, MGI Worldwide are poised to play a pivotal role in facilitating cross-border collaboration.  

The global network, which includes firms from both India and the UK, is already helping clients navigate the complexities of the agreement, offering advisory services on trade structuring, investment opportunities, and regulatory compliance. 

Shetty notes that MGI Worldwide’s role in helping firms collaborate across borders is invaluable.  

By providing a platform for knowledge sharing, referrals, and joint ventures, MGI Worldwide is enabling firms to deliver seamless service delivery for clients involved in UK-India trade and expansion. 

Chopra agrees, stating that MGI Worldwide’s global network will be key to realising the full potential of the FTA. “MGI Worldwide can be the bridge that turns FTA potential into reality, connecting businesses, sharing insights, and enabling seamless cross-border service delivery,” he says.

Expanding horizons for future growth

The India-UK FTA is more than just a trade agreement, it’s a catalyst for investment, collaboration and professional growth between the two nations.  

With enhanced trade provisions, reduced tariffs, and the recognition of professional qualifications, the agreement is creating a more predictable, business-friendly environment for companies in India and the UK. 

For MGI Worldwide member firms in India, the opportunities are vast. Whether through tariff reductions, cross-border professional mobility, or the ability to establish deeper partnerships with UK counterparts, the FTA is paving the way for greater collaboration and growth. 

As businesses and professionals in both countries prepare to embrace the FTA’s benefits, MGI Worldwide stands ready to support its member firms in taking full advantage of the new opportunities this landmark agreement presents.  

With its strong network and cross-border expertise, MGI is well-positioned to help businesses navigate the complexities of the India-UK trade relationship, ensuring that firms on both sides of the border can maximise the potential of this historic agreement.

Final thoughts

The India-UK FTA offers significant promise for both countries, particularly in the areas of trade, professional services, and investment.  

With Indian accountancy firms leading the way in exploring the opportunities created by the agreement, MGI Worldwide’s member firms are perfectly positioned to leverage their expertise to help clients thrive in this new economic landscape.  

As the FTA continues to unfold, it’s clear that the future of UK-India relations will be shaped by collaboration, innovation, and mutual growth and MGI Worldwide will be at the heart of this exciting journey.

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