OYO Rooms founder and CEO Ritesh Agarwal has termed the newly signed India–UK Free Trade Agreement (FTA) a “major step forward” for sectors like startups, travel, and services.
In a video posted on Instagram, Agarwal highlighted how the deal aligns with OYO’s growing footprint in the UK — where the company currently operates 220+ hotels across 65+ cities and has invested over £50 million in premium expansion. “This agreement means more than just trade — it means 1,000+ new jobs, deeper AI innovation, and a stronger presence in local communities,” he said.
Agarwal was among a select group of Indian business leaders, including Bharti Enterprises chairman Sunil Mittal and Vedanta Resources chairman Anil Agarwal, invited to attend the formal signing of the FTA.
Signed on July 25 by India’s Commerce Minister Piyush Goyal and UK’s Secretary of State for Business and Trade Jonathan Reynolds, the agreement is designed to boost bilateral trade in goods and services — and is expected to have ripple effects across sectors fueling digital growth and cross-border collaboration.