As a Department of International Trade, East of England Export Champion based in King’s Lynn, Captain Fawcett is honoured to feature in the portfolio of British businesses being showcased by the Trade Secretary, The Rt Hon Anne-Marie Trevelyan MP in the current negotiations to establish an important free trade agreement with India. ‘As a company that with the assistance of both the DIT & UKIBC is registering a number of our simply ‘First Class Gentlemen’s Grooming Requisites’ with a view to importing into the world’s fastest-growing market. We welcome this hugely exciting initiative. UK-India Free Trade Agreement How the East of England could benefit: The East of England is an export powerhouse, sending nearly £30bn of goods abroad in 2019 – £449m of which went to India. An FTA with India could provide easier access for exporters such as King’s Lynn-based gentleman’s grooming specialists Captain Fawcett, stimulating businesses across the region and boosting its economy by up to £224m in the long run. An FTA which reduces India’s huge import taxes of up to 60% on dairy products and more than double that on other UK goods would be great news for firms like Volac, based in Cambridge, who produce dairy nutrition products, or the region’s specialist industrial equipment makers, who already export over £34m-worth of goods a year to India. The East of England is a hi-tech centre of excellence, from Cambridgeshire’s world-renowned life sciences experts to innovative scientific equipment producers in Suffolk. Companies like medical device firm CMR Surgical would benefit from an FTA which allows greater co-operation with Indian researchers as both countries strive to build back better from coronavirus. The East’s services sector already has a global reach, exporting £179m-worth to India in 2019. Opening access to India’s expanding market offers huge opportunities for law firms in Peterborough, accountants in Southend-on-Sea, or transport, storage, and logistics experts in Bedfordshire.
