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