Union Minister Piyush Goyal hailed the India-UK Free Trade Agreement (FTA) as a game-changer, calling it the biggest and most comprehensive deal India has signed.
Approved by India’s Cabinet and awaiting UK Parliament ratification, the agreement ensures duty-free access for 99% of Indian exports, benefiting farmers, MSMEs, fishermen and professionals.
The Comprehensive Economic and Trade Agreement (CETA) offers huge benefits, especially to agriculture, with 95% of Indian farm products getting duty-free access to the UK.
At the same time, India safeguarded key sectors by excluding dairy, edible oils and apples. Indian professionals in the UK will save up to Rs 4,000 crore annually by being exempt from social security tax for three years.
Goyal emphasized that India is also progressing with FTAs with the EU, US, Peru, Chile and Oman. He also criticized the previous UPA government for past trade deals, stating that current FTAs are more strategic and mutually beneficial.
When India is making such zero-tax pacts with many countries, what about the USA? Will Donald Trump and Narendra Modi also reach an agreement like this without a tariff war?
Many are waiting to see what unfolds, as Trump’s tariff war ultimately harms the American population the most than India.
Prices rise sharply, and the U.S. lacks the local manpower and infrastructure to produce goods at costs as low as India can offer.
