London [United Kingdom], July 22: In a landmark moment at the House of Lords, UK Parliament, Advocate & CA Harsh Patel, Founder & Global CEO of Water & Shark, proudly represented India at the India–UK SME Leaders Meeting. The prestigious event brought together Members of Parliament, diplomats, industry leaders, and international policy advisors to explore the real-world impact of the India–UK Free Trade Agreement (FTA), signed in May 2025.
Speaking from one of the world’s most respected political institutions, Harsh Patel delivered a visionary and action-oriented speech that underscored the importance of transforming the FTA from a diplomatic document into a living engine for entrepreneurship, trust-based trade, and global cooperation.
Empowering Founders Through the FTA
Calling the FTA a “People’s Agreement,” Patel emphasized its potential to empower small businesses and first-time exporters across both nations.
“Let us not view this FTA as an end — but a beginning. A beginning of simplified trade, trusted compliance, and shared prosperity,” he declared.
He stressed that 98% of UK firms exporting to India are SMEs, while India’s 60 million MSMEs contribute nearly 30% of its GDP, making it essential that the FTA enables direct listing for Indian startups on the London Stock Exchange (AIM) and unlocks £38 billion worth of Indian public procurement for UK firms.
From zero tariffs on Indian textiles and gems to reduced duties on UK whisky and vehicles, Patel cited tangible sectoral gains that benefit entrepreneurs on both sides. He urged leaders to see this as more than tariff reduction — to see it as an entrepreneurial bridge.
“We must move beyond the ‘Free Trade Agreement’ and evolve it into a ‘Founder & Trade Agreement’ — because the real engine of economic growth is the entrepreneur,” he added.
Addressing Wealth & Talent Reverse Migration
In a bold segment of his speech, Patel drew attention to a critical shared challenge: the reverse migration of wealth and talent faced by both India and the UK.
“In the UK, a 40% inheritance tax is prompting many international families to relocate capital. In India, regulatory opacity and limited structuring flexibility are doing the same. We are not just seeing capital flight — we are seeing a shift of human capability,” Patel said.
He proposed using the FTA as a foundation for cross-border collaboration in trust law, succession planning, and legacy management, enabling both countries to retain their global citizens through clarity, fairness, and long-term security and paving way for intergenerational succession.
About Harsh Patel
Harsh Patel is a dual-qualified Advocate and Chartered Accountant, and the Founder & Global CEO of Water & Shark, a multinational legal and tax advisory firm. With a presence in the UAE, UK, India, Singapore, and the US, his firm specializes in international tax structuring, cross-border expansion, private wealth advisory, and succession law.
He has previously spoken at the European Parliament, Gulf Economic Forums, and numerous international summits — and is known for bridging legal precision with entrepreneurial vision.
With his appearance at the UK Parliament’s House of Lords, Patel once again reaffirmed his role as a strategic voice for global SMEs, wealth creators, and legal reform advocates, advancing cooperation between two of the world’s most dynamic economies.
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