The agreements officially came into effect on Wednesday, establishing a new framework for trade and economic cooperation between the two countries.
NEW DELHI: Prime Minister Narendra Modi on Wednesday welcomed the coming into force of the India-United Kingdom Comprehensive Economic and Trade Agreement (CETA) and the Agreement on Social Security, calling it a “significant moment” in bilateral ties that will deepen economic cooperation and create new opportunities for businesses, workers and farmers.In a post on X, PM Modi said the two agreements would strengthen economic linkages between the two countries and deliver tangible benefits across several sectors.”This is a significant moment in the India-United Kingdom partnership! With the coming into force of the Comprehensive Economic and Trade Agreement and the Agreement on Social Security, our economic linkages are going to get even deeper. Together, these agreements translate our shared ambition into tangible opportunities for our people. The CETA will give fresh momentum to our farmers, entrepreneurs and MSMEs. Several vibrant sectors will gain stronger access to the UK market. It will also deepen cooperation in technology, professional services and innovation, while supporting greater mobility for skilled Indian talent.”The Prime Minister also underlined the importance of the accompanying social security pact, saying it would “provide invaluable support to Indian professionals working temporarily in the UK and strengthen the competitiveness of Indian enterprises.” “The social security agreement will provide invaluable support to Indian professionals working temporarily in the UK and strengthen the competitiveness of Indian enterprises. This moment reflects the trust between our democracies and our resolve to build a forward-looking partnership driven by trade, technology, investment and innovation. India and the UK will continue working together for shared prosperity,” he added.The agreements officially came into effect on Wednesday, establishing a new framework for trade and economic cooperation between the two countries.Union Commerce and Industry Minister Piyush Goyal said the trade pact provides zero-duty market access for nearly 99 per cent of India’s exports, covering almost 100 per cent of the total trade value. He said it would create new opportunities for labour-intensive industries, MSMEs, farmers, manufacturers and the services sector.The agreement removes tariffs on sectors including textiles, garments, leather, gems and jewellery, engineering goods, chemicals, electronics, marine products, furniture and sports goods. It also grants zero-duty access to all agricultural products except chicken, pork, eggs, rice and sugar, while 97.1 per cent of tariff lines for processed food products will receive duty-free access.
