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India-UK FTA kicks in: UK-bound cargo takes off from several Airports

Business and industry groups across India and the UK welcomed the free trade agreement (FTA) coming into force on Wednesday, July 15, which is set to unleash a flurry of tariff cuts that will catalyse bilateral trade through greater two-way movement of goods and services. Prime Minister Narendra Modi  said that the Comprehensive Economic and Trade Agreement (CETA) and the Agreement on Social Security which came into force Wednesday, is a significant moment in the partnership of India-United Kingdom. The Prime Minister added that the CETA will give fresh momentum to India’s farmers, entrepreneurs and MSMEs along with several vibrant sectors gaining stronger access to the UK market. The Prime Minister noted that it will also deepen cooperation in technology, professional services and innovation, while supporting greater mobility for skilled Indian talent.
To commemorate the occasion, export consignments from various Indian states for UK were flagged off. In Gujarat, British Deputy High Commissioner Steve Hickling and the Joint Director of the Directorate General of Foreign Trade, Dr Rahul Singh, flag off the 1st export consignments under the agreement at the Inland Container Depot—ICD in Sanand, Ahmedabad. 

In Punjab, the first export consignment of ready-made garments was fagged off from the Cargo Terminal of Sri Guru Ram Dass Jee International Airport, Amritsar. This special commercial consignment has been dispatched to Birmingham, UK, via an Air India direct flight.

Export consignments from Telangana bound for the United Kingdom were flagged off at the Inland Container Depot (ICD), Sanathnagar. Speaking after flagging off the consignments, Krishna Aditya, Special Secretary (Industries), Government of Telangana, described July 15 as a significant day for India's trade sector, saying the implementation of the agreement would reduce tariffs on several products from as high as 70 per cent to zero, providing a major boost to exports.
The consignments flagged off from the Indira Gandhi International Airport of New Delhi included medical equipment and Jewellery products. Union Commerce Secretary Rajesh Agrawal says, "I'm told that more than 140 million worth of goods are being sent to UK today under this India-UK CETA (Comprehensive Economic & Trade Agreement) on day one."

The first consignment from Kerala to the United Kingdom was ceremonially flagged off, marking a significant step towards strengthening bilateral trade and enhancing export opportunities for Indian businesses. The ceremony was jointly organised by DGFT-RA Kochi, FIEO, and APEDA, highlighting collaborative efforts to facilitate exports  and unlock new opportunities  under the India–UK CETA.
The first commercial consignments worth USD 446,046 M were flagged off from Chennai by DHC Sutapa Choudhury & Ms Rajalakshmi Devaraj,DGFT Chennai. The shipment included jewellery, auto parts, footwear, rice & frozen food products.

The first gem & jewellery export consignments under the India–UK FTA were flagged off today from PCCCC & BDB, Mumbai, marking the rollout of the landmark trade agreement.
The Comprehensive Economic and Trade Agreement (CETA) was signed between Prime Minister Narendra Modi and his UK counterpart Keir Starmer in July last year, following 14 rounds of negotiations. It is expected to at least double the trade between the two countries from the current annual levels of an estimated 48 billion pounds by 2030, and also boost their GDPs by nearly 5 billion pounds every year in the long run.British High Commissioner to India, Lindy Cameron, says, "We've seen excitement all the way from the very biggest businesses, all the way down to the MSMEs, who actually see this as helping them get access to great markets."

The agreement gives zero-duty access to nearly 99 per cent of Indian exports to the UK, covering almost the entire value of goods India sells there. This means thousands of Indian products that earlier attracted import duties in Britain can now enter the market duty-free, making them more competitive against products from Europe, China and other countries.

 

 

 


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