London, July 24 -- The reduction in import duties on automobiles under the newly signed India-UK Free Trade Agreement (FTA) will ultimately benefit Indian auto component manufacturers, said Sunil Bharti Mittal, Chairman of Bharti Enterprises, adding that the UK component makers will shift manufacturing to India, attracted by lower production costs and a growing domestic market.

In an exclusive interview with ANI, the Bharti Enterprises Chairman also noted that UK automobile companies will increasingly import components from India as the manufacturing of expensive auto components will shift to the country.

He further emphasised that the UK's auto manufacturers would likely increase their imports of components from India, potentially sett...