Maharashtra set to gain big from Indo-UK Trade Agreement: CM Fadnavis

Mumbai, July 24 (IANS) Maharashtra Chief Minister Devendra Fadnavis on Thursday said that his state is set to gain big from landmark India-UK Trade Agreement.

In his post on X, CM Fadnavis said: “Many Congratulations and thanks to Hon PM Narendra Modi Ji for the landmark India–UK Free Trade Agreement, which brings immense benefits Indians including Maharashtra’s farmers, artisans and service sector too!”

He further stated: “Farmers in Maharashtra to gain from increased exports of mangoes, grapes, jackfruits, millets & organic produce. Better international reach and margins for turmeric, pepper, and cardamom. Kolhapuri leather footwear industry to get a global push with zero-duty access for leather & footwear Boost for MSME hubs like Kolhapur, making them more globally competitive. This visionary agreement opens new doors for Maharashtra’s rural economy and traditional industries. Gratitude to PM Modi for empowering Maharashtra’s farmers and artisans on the global stage.”

According to the government release, the FTA marks a significant milestone in India’s engagement with major developed economies and reflects a shared commitment to strengthening economic integration.

As the world’s fourth and sixth largest economies respectively, India and the UK’s bilateral engagement holds global economic significance.

The signing of the India-UK Comprehensive Economic and Trade Agreement (CETA) follows the successful conclusion of negotiations announced on May 6, 2025. The bilateral trade between the two countries stand at nearly $56 billion, with a joint goal to double this figure by 2030.

CETA secures unprecedented duty-free access for 99 per cent of India’s exports to the UK, covering nearly the entire trade basket.

This is expected to open new opportunities for labour-intensive industries such as textiles, marine products, leather, footwear, sports goods, toys, and gems and jewellery, alongside fast-growing sectors like engineering goods, auto components, and organic chemicals. The services sector, a strong driver of India’s economy, will also see wide-ranging benefits.

The agreement provides greater market access in IT and IT-enabled services, financial and legal services, professional and educational services, and digital trade. Indian professionals, including those deployed by companies to work in UK across all services sectors, professionals deployed on contracts such as architects, engineers, chefs, yoga instructors, and musicians, will benefit from simplified visa procedures.

CETA is expected to boost trade volumes significantly in the coming years, creating jobs, expanding exports, and supporting a deeper, more resilient economic relationship between India and the United Kingdom.

--IANS

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