India-UK CETA Deal Opens $23 Billion Market For Indian Exports, Says Goyal

In a major boost to India’s global trade ambitions, Union Commerce and Industry Minister Piyush Goyal on Thursday called the India-UK Comprehensive Economic and Trade Agreement (CETA) a ‘historic leap’. He said the pact would empower workers, farmers, MSMEs, and startups across India.

Goyal congratulated Prime Minister Narendra Modi, UK Prime Minister Keir Starmer, and the citizens of both nations. He noted that the deal grants duty-free access to 99 per cent of Indian exports to the UK.

This opens up nearly $23 billion worth of new opportunities, especially for labour-intensive sectors.

The agreement was signed in the presence of both Prime Ministers. Goyal and UK Secretary of State for Business and Trade Jonathan Reynolds inked the pact after two and a half years of talks.

Boost to Farmers, Artisans, and Women

Goyal said the deal would transform the lives of artisans, weavers, and daily-wage earners in textiles, leather, footwear, gems and jewellery, toys, and marine products.

Taking to X, he noted that the agreement empowers women from ‘village looms to tech labs’ by improving financial access and global integration.

Agriculture will benefit greatly, with 95 per cent of Indian farm products receiving duty-free access to the UK. For fisherfolk, 99 per cent of marine exports will attract zero duty.

Goyal said the agreement promotes inclusive and gender-equitable growth and strengthens the economy from the grassroots.

Opportunities for Services, Startups, and Talent

India-UK CETA will also boost sectors such as engineering, electronics, pharma, chemicals, plastics, and food processing. The services industry stands to gain from easier access to UK markets in IT, finance, education, and legal services.

Simplified visa norms will benefit Indian chefs, yoga instructors, musicians, business visitors, and professionals. The deal includes a Double Contribution Convention. It exempts Indian professionals and their employers from paying UK social security for three years.

Goyal called it a ‘significant breakthrough’ that improves the cost competitiveness of Indian talent abroad. Startups will also gain from easier access to UK investors and innovation hubs.

Calling India-UK CETA a “win-win”, Goyal said the deal supports ‘Make in India’ and ‘Vocal for Local’. It is expected to drive job creation and reinforce India’s strategic role in global trade.

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