NEW DELHI: Union Minister of Commerce & Industry Piyush Goyal hailed the signing of the landmark India–UK Comprehensive Economic and Trade Agreement (CETA) as a transformative moment for India’s economy, calling it a “big win” for workers, farmers, MSMEs, and global Indian talent.
In a post on X (formerly Twitter), Goyal congratulated Prime Minister Narendra Modi, UK Prime Minister Keir Starmer, and the citizens of both nations. “Congratulations to Prime Minister @NarendraModi ji, UK Prime Minister @Keir_Starmer, and the people of India & the United Kingdom on the signing of the landmark India-UK Comprehensive Economic and Trade Agreement (CETA),” he wrote.
Highlighting the scale of the agreement, Goyal revealed:
“Duty-free access for about 99% of Indian exports unlocks nearly $23 billion in opportunities for labour-intensive sectors, marking a new era for inclusive and gender-equitable growth.”
The agreement is expected to provide a massive boost to India’s MSMEs, especially in sectors like textiles, leather, footwear, gems & jewellery, toys, and marine products.
“Artisans, weavers, and daily-wage labourers employed in several MSMEs… will step into a new phase of prosperity. From village looms to tech labs, this FTA marks a historic leap for women through improved access to finance and deeper integration into global value chains,” Goyal said.
On agriculture and marine exports, Goyal described the pact as “a big win for farmers”:
“It ensures duty-free exports on nearly 95% of agricultural products, while fisherfolk gain from Zero Duty on 99% of marine exports, boosting their incomes.”
The deal also covers manufacturing-intensive sectors such as engineering goods, electronics, pharma, chemicals, food processing, and plastics, which Goyal said will be “transformed” by new access to UK markets.
In a major breakthrough for India’s skilled workforce abroad, the agreement includes a three-year exemption from social security contributions for Indian workers in the UK—part of the Double Contribution Convention.
“This is a significant breakthrough for Indian workers and their employers,” Goyal noted, adding that professions like chefs, yoga instructors, musicians, and business visitors will benefit from easier mobility.
He also emphasized gains for India’s IT, services, and education sectors, and said the deal will help startups reach UK investors and innovation hubs:
“The #IndiaUKFTA will open doors to UK customers, investors, and innovation hubs for our Startups, helping them expand their global footprint.”
Calling the pact a “win-win for ‘Make In India’ and ‘Vocal For Local’,” Goyal concluded:
“This deal drives job creation, empowers communities, and reinforces India’s strategic trade leadership. It ushers in a new era of economic cooperation, reinvigorating our bilateral trade ties.”
The India–UK CETA marks the most significant trade agreement signed by the UK since Brexit, with leaders on both sides hailing it as a blueprint for modern economic partnerships.
