India-UK Trade Pact Drives Automobile Sector Growth
The India-UK Free Trade Agreement, underlined by SIAM, promises to boost consumer interest and Indian industry goals. It provides duty-free access to Indian sectors in the UK, unlocking opportunities worth USD 23 billion. The pact marks a vital step in enhancing India's global economic ties.
- Country:
- India
The India-UK Free Trade Agreement, lauded by the Society of Indian Automobile Manufacturers (SIAM), is set to balance consumer interests with the advancement of the Indian automotive industry. Announced on Thursday in London, it grants duty-free entry for Indian sectors into the British market, opening up an impressive $23 billion in trade opportunities.
SIAM President Shailesh Chandra highlighted the agreement as a strategic engagement, paving the way for collaboration with a vital global partner. The deal, officially named the Comprehensive Economic and Trade Agreement (CETA), was signed in the presence of Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, marking enhanced economic relations.
Chandra emphasized this transformative pact strengthens India's position in global trade amidst uncertainties. The agreement, developed through extensive stakeholder consultations, exemplifies India's leadership in modernizing trade and investment frameworks.
(With inputs from agencies.)
ALSO READ
Prime Minister Narendra Modi arrives in the Maldives on the second leg of his two-nation tour.
Youth key to realizing Prime Minister Narendra Modi's vision of developed India by 2047: Haryana CM
UK's Diplomatic Stance Toward Palestine: Keir Starmer's Bold Announcement
After many years of hard work, a comprehensive economic and trade agreement has been inked between India and UK: PM Modi.
It is one of the comprehensive trade deals that India has ever done: UK PM Keir Starmer.
Google News