The India-UK Comprehensive Economic and Trade Agreement (CETA) has been implemented, offering new avenues for Indian exporters, fostering technology collaborations, and enhancing global competitiveness, according to leading industry bodies. PHDCCI released a research report titled ‘India–UK CETA: A Strategic Guide to Export Opportunities and Market Access’ to evaluate the pact’s impact on bilateral trade, sectoral competitiveness, technology partnerships, market access, and necessary policy measures.
The report highlights that India’s exports to the UK are increasingly shifting towards higher-value manufacturing products, supported by initiatives like production-linked incentive (PLI) schemes, industrial policies, and enhanced manufacturing competitiveness. Notably, segments such as smartphones, pharmaceuticals, machinery components, and processed agricultural goods are witnessing rapid export growth.
Rajeev Juneja, President of PHDCCI, emphasized that the India-UK CETA could revolutionize bilateral trade by transitioning from a goods-centric relationship to a technology-focused economic partnership. The agreement aims to leverage India’s manufacturing capabilities with the UK’s innovation prowess to boost exports, attract investments, and integrate into global value chains.
Dr. Ranjeet Mehta, Secretary General and CEO of PHDCCI, noted that the CETA offers Indian industries a vital platform to diversify exports and enhance competitiveness in key sectors like electronics, pharmaceuticals, engineering goods, specialty materials, and digital services. Similarly, Chandrajit Banerjee, Director General of CII, hailed the operationalization of CETA as a significant milestone that will fortify economic ties between India and the UK, enhancing the global competitiveness of Indian businesses.
