The India-United Kingdom Comprehensive Economic and Trade Agreement (CETA) has come into effect, aiming to enhance India’s exports and services sector. WTC Mumbai Chairman Vijay Kalantri highlighted that nearly 99.5% of India’s exports to the UK will now enjoy zero tariffs, benefiting industries like gems, textiles, engineering, and food processing. Kalantri emphasized the need for Indian businesses to enhance productivity to maximize the opportunities presented by the agreement.
Welcoming the trade pact, Kalantri expressed optimism about the significant benefits it would bring to sectors such as gems, textiles, engineering goods, and agriculture. He stressed the importance of Indian manufacturers focusing on productivity improvements and capacity expansions to fully capitalize on the agreement’s advantages. Additionally, he mentioned that industries like auto components are expected to benefit from improved market access.
Kalantri emphasized the importance of Indian businesses enhancing productivity to fully utilize the benefits of the trade agreement. He also highlighted that sectors like auto components and services, including yoga teachers and chefs, would gain from the improved market access and relaxed visa regime provided by the agreement.
