India-UK Free Trade Agreement: Boon for Agri, Textiles, and More
The India-UK Comprehensive Economic and Trade Agreement (CETA) grants extensive duty-free access to Indian agricultural, marine, and textile products, aiming for significant export growth. Key provisions streamline market entry, benefiting various Indian sectors without compromising sensitive markets like dairy. This historic FTA opens new avenues in engineering, electronics, and services.
- Country:
- India
In a landmark move, India and the UK have inked the Comprehensive Economic and Trade Agreement (CETA), significantly boosting Indian exports with duty-free access to a wide range of products. This FTA, expected to enhance agri, textile, and engineering exports, promises substantial economic growth for both nations.
A major highlight of the agreement is the elimination of UK tariffs on over 95% of agricultural and processed food products from India. This includes fruits, vegetables, cereals, spices, and seafood, aligning with India's USD 100 billion agri-export target by 2030. Moreover, the zero-duty access extends to textiles, engineering, electronics, and services, positioning India as a competitive player in the UK market.
This strategic pact also introduces groundbreaking measures such as a unique Innovation chapter, fostering joint technological cooperation. The FTA enhances job mobility for Indian professionals and lowers technical trade barriers, while sensitive sectors like dairy remain protected to safeguard domestic interests.
(With inputs from agencies.)
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