In 2010, when an Indian businessman acquired the rights to the historic East India Company brand, he sent a clear signal: the Indian market now matters just as much to Britain as Britain once did to India.

In essence, the new UK-India FTA is a modern-day reclaiming of market power—this time built on mutual advantage rather than imperial might.

For India, the agreement is a boon to employment-heavy sectors. Over the next decade, tariffs on apparel, footwear, and seafood will be phased out, giving millions of textile workers, the leather industry and seafood processors a great British opportunity.

In return, New Delhi has flung open its fast-growing premium segment to British exports. Auto parts, Scotch whisky, and British lamb will all gain preferential access. Scotch and gin duties—formerly a punitive 150 per cent—fall........

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