JCB has welcomed news of the UK–India free trade agreement.
Chief executive Graeme Macdonald described India as a ‘great country in which to do business’.
He added, “JCB has been manufacturing machines there since 1979. So, we know India very well and the opportunity for British businesses in that huge market is significant. It’s the fifth largest economy in the world and is tipped to become the third largest by 2028. This free trade agreement should give British businesses the confidence they need to enter the market, trade more easily and benefit from the massive opportunity.”
JCB employs 10,00 people in India, where it has seven factories.
Chairman Anthony Bamford commented that he was pleased the UK Government got the deal over the line. “India is the world’s most populous country with over 1.4 billion people living in the world’s largest democracy,” he stated. “I know from JCB’s experience of making and selling machines in India that British businesses looking to trade with India will be welcomed with open arms.
“The opportunity is huge, and the free trade agreement will open the door to much improved trade between our countries – in both directions.”
