India-UK FTA to help TVS Motor’s British brand Norton: Sudarshan Venu

TVS Motor Company managing director Sudarshan Venu has said the historic India-UK Free Trade Agreement will help the automaker’s British brand Norton in scaling faster and leverage

“We applaud our PM’s vision to enhance India’s trade links globally. It creates large opportunities for Indian companies like ours to expand further and access new markets. We really appreciate the effort taken by the Government to make this historic India-UK Free Trade Agreement. Our British brand Norton will launch later this year and this agreement will help us scale faster and leverage common supply chains. We are excited as we further progress towards Viksit Bharat,” said Venu.

These comments follow the successful conclusion of the Free Trade Agreement (FTA) and the Double Contribution Convention between India and the United Kingdom, marking a significant milestone in their strategic partnership.

TVS Motor snapped up Britain’s luxury motorbike maker Norton Motorcycles for ₹153 crore in 2020. It has spent around ₹1,200 crore since to revive the Norton brand to its former glory.

“We are investing a lot in Norton. With the launch of Norton, you will start seeing more action from us in Europe,” Venu had told Fortune India last year, adding that the company will also launch an electric Norton. “We continue to focus on expanding into new markets and growing fast in those markets,” he said.

The FTA is expected to provide a positive impact on manufacturing across labour and technology intensive sectors and opens up export opportunities for industries such as textiles, marine products, leather, footwear, sports goods and toys, gems and jewellery and other important sectors such as engineering goods, auto parts and engines and organic chemicals. This is expected to improve Indian goods' competitiveness in the UK substantially.

Commenting on the India-UK FTA, Shradha Suri Marwah , President ACMA and CMD Subros , said, “‘ACMA congratulates the Government of India on the signing of the historic India–UK Free Trade Agreement. This landmark pact opens a new chapter for bilateral trade and investment, and is a significant step toward deepening economic ties between the two nations. The Indian auto component industry looks forward to enhanced cooperation, technology partnerships, and market access through this milestone agreement.”

This agreement sets a new benchmark for equitable and ambitious trade between two large economies, said Union Minister Piyush Goyal. “It will benefit Indian farmers, fishermen, workers, MSMEs, startups and innovators. It brings us closer to our goal of becoming a global economic powerhouse. This FTA is not only about goods and services, but also about people, possibilities and prosperity. It protects our core interests while opening doors to India’s greater participation in global value chains,” the Union minister said.

The Free Trade Agreement (FTA) comes in the backdrop of strengthening economic ties between India and the United Kingdom, highlighted by bilateral trade currently valued at around $60 billion and expected to double by 2030. This far-reaching deal marks the conclusion of extensive negotiations aimed at enhancing cooperation in trade and investment across multiple areas such as goods, services, and technology. The agreement is intended to foster inclusive and sustainable economic development, support robust supply chains, and create high-quality jobs in India. In a significant breakthrough, India has secured a unique provision under the Double Contribution Convention that exempts Indian professionals temporarily working in the UK—and their employers—from paying social security contributions there for three years. This concession will substantially boost the competitiveness of Indian service providers in the UK market.