India-UK FTA: A Gateway to Growth for Indian Youth
The India-UK Free Trade Agreement aims to create growth, skill development, and employment opportunities for Indian youth by boosting sectors like IT, education, and textiles. It offers duty-free UK market access, financial benefits for services, and fosters a transparent business environment for young entrepreneurs.
- Country:
- India
The landmark India-UK Free Trade Agreement (FTA), expected to be finalized on Thursday, promises to unlock significant growth avenues for Indian youth across various sectors. This vital partnership will enhance opportunities in India's burgeoning services sector, particularly IT, financial services, and professional consultancy, offering robust career possibilities for young talent.
The FTA also grants duty-free access to the UK for Indian products in labour-intensive industries like leather, textiles, and gemstones, sectors where the UK imports over USD 23 billion annually. This move is anticipated to boost production and employment domestically, benefiting India's youthful workforce.
A notable feature of the agreement is the exemption of social security contributions for Indian professionals in the UK, which enhances financial viability and competitiveness. Moreover, the FTA encourages good regulatory practices and a cooperative digital trade framework, supporting young entrepreneurs and creating a safer digital environment for burgeoning careers.
(With inputs from agencies.)
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