India-UK Trade Deal: Key Highlights and Industry Impact
The Indian government plans 1,000 outreach programmes to promote the India-UK trade agreement. The deal reduces tariffs, offering opportunities for exports and imports, and expands access across multiple sectors like textiles and technology. Commerce Minister Piyush Goyal will discuss implications with the leather and textiles sector.
- Country:
- India
The Indian government is rolling out comprehensive outreach initiatives to enlighten stakeholders about the newly signed India-UK trade agreement. Over the next 20 days, 1,000 programs, including workshops and feedback sessions, will target industry sectors nationwide, as per official sources.
This exercise intends to facilitate the agreement's effective implementation and optimize its economic benefits. Minister of Commerce and Industry, Piyush Goyal, will spearhead a meeting focused on the leather and textiles industries, detailing the implications of the trade pact, which was officially signed on July 24.
The deal promises duty-free entry for 99% of Indian exports to the UK, aiming to double bilateral trade by 2030. As trade barriers reduce, particularly on automobiles and textiles, Indian and UK businesses stand to gain significantly, spurring economic growth and investment opportunities.
(With inputs from agencies.)
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- India-UK trade
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- ministry
- Piyush Goyal
- textiles
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