India-UK trade boost: 108 service sub-sectors opened to British firms, 137 to Indian companies

India has pledged to open up to British firms 108 sub-sectors of services, including accounting, environmental services and auxiliary financial services, while the UK will grant Indian companies access to 137 sub-sectors covering nearly all of New Delhi's current services exports.

All key areas of India's interest, such as IT, management consultancy, advisory, accountancy, engineering, telecom, financial services, education and health are covered. "Both in terms of width and depth of coverage the UK's commitments (to India) are much deeper," according to an Indian commerce ministry note.

As per the pact, British companies can offer telecom and construction services in India without having a local presence, and will be treated on a par with Indian firms. India will also recognise UK professional qualifications in a few fields, such as law and accounting, although legal services remain closed. Both parties have decided to engage on Mutual Recognition of Qualifications in a time-bound manner. India has a trade surplus of over $5 billion with the UK in professional services and has the scope to boost it further.


Segments, such as nursing, accounting, architecture, dental and other services, will gain significantly from this engagement, the ministry's note added.