Union Commerce and Industry Minister Piyush Goyal on Tuesday said the India-UK Comprehensive Economic and Trade Agreement (CETA) is truly a people-friendly agreement that will benefit Indian farmers, businessmen, artisans and common people across the country.
“Access to the UK’s premium market will open up new opportunities for women entrepreneurs, youth, startups and MSMEs globally. This agreement will also empower the underprivileged without compromising India’s core interests,” the Union Minister said in a post on social media platform ‘X’.
Piyush Goyal said that this historic agreement will help Indian farmers, fishermen, artisans and small businessmen to grow globally. With this, new employment opportunities will be created and better quality products will be available to the common people at competitive prices.
He said in a detailed article that this transformational and beneficial agreement for both the countries, which will come into force from July 15, will provide Indian products wider access to the UK market, especially in labour-intensive sectors. Under this, duties on almost 99 per cent of tariff lines, covering almost 100 per cent of trade value, will be immediately abolished, creating huge opportunities for Indian exporters.
CETA was signed last year in the presence of Prime Minister Narendra Modi and British Prime Minister Keir Starmer, which is going to benefit all sections of the society.
Under this, farmers will get access to premium export markets, while their domestic interests will also be protected. Fishermen will get the benefit of exporting marine products to the huge market of Britain. New employment opportunities will be created for workers. Women entrepreneurs, youth, startups and MSMEs will get better access to global value chains. At the same time, professionals will also get opportunities for greater mobility and recognition.
The Minister said that this agreement will provide benefits to Indian farmers in the UK market, which in many cases will be equal to or more than the benefits available to European countries.
Processed products like turmeric, black pepper, cardamom and mango pulp, pickles and pulses will get duty free entry into the UK. This will increase agricultural exports, improve farmers’ income and promote quality, packaging and certification. Besides, employment opportunities will also increase in various sectors related to agriculture sector.
Piyush Goyal clarified that India’s most sensitive agricultural sectors have been kept out of this agreement so that the interests of domestic farmers are protected.
Sectors like dairy products, cereals, millets, apples, oats and edible oils are not included in the agreement. This reflects the government’s policy that prioritizes food security, domestic price stability and the protection of vulnerable farming communities.
He said that getting duty-free access to the huge UK market will give a big boost to the Indian manufacturing sector. This will strengthen traditional artisans, large factories and regional industrial centers in global competition.
Small businesses will also benefit as Indian products will get a competitive edge over other countries. Indian companies manufacturing footballs, cricket equipment, rugby balls and toys will be able to rapidly expand their business in Britain.
He said the removal of tariffs will eliminate long-standing trade barriers, especially in labour-intensive sectors, thereby boosting both the competitiveness and production capacity of Indian exports.
Piyush Goyal said that this agreement will strengthen the real economy of the country.
“From the looms of Tiruppur to the laboratories of Bengaluru, from the diamond artisans of Surat to the software experts of Hyderabad, this agreement will impact every important part of the country’s economy and create new possibilities for growth,” he said.
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