Commerce and Industry Minister Piyush Goyal highlighted the India-UK Comprehensive Economic and Trade Agreement (CETA) as a beneficial pact for Indian farmers, businesses, and artisans. The agreement, effective from July 15, aims to provide market access for Indian goods in the UK, eliminating tariffs on nearly 99% of tariff lines.
Goyal emphasized that the CETA will open up opportunities for various sectors, particularly benefiting farmers, fishermen, artisans, and small businesses. The agreement is designed to enhance job creation, facilitate global market access, and ensure competitive prices for high-quality goods for consumers.
The trade deal, signed in the presence of PM Narendra Modi and British Prime Minister Keir Starmer, is expected to boost exports and create employment opportunities in labor-intensive sectors. It will offer duty-free access to the UK market for Indian products like turmeric, pepper, and processed goods, while safeguarding sensitive agricultural sectors in India.
Goyal noted that the agreement will enhance India’s manufacturing sector competitiveness and promote the growth of small businesses. By removing tariff barriers, the CETA is set to benefit a wide range of industries, from traditional artisans to large-scale factories, enabling them to expand their business in the UK market.
