Statement of Mr Chandrajit Banerjee, Director General, CII on India - UK CETA
In a statement issued today, Mr Chandrajit Banerjee, Director General, CII, said, "the operationalization of the India-United Kingdom Comprehensive Economic and Trade Agreement (CETA) is a landmark milestone that will significantly strengthen bilateral economic relations and create new opportunities for Indian industry.
The Agreement reflects India's growing confidence in securing balanced, high-quality trade outcomes that enhance the global competitiveness of Indian enterprises while safeguarding national interests.
For Indian industry, the CETA opens a new era of opportunities. Zero-duty access for 99 per cent of India's exports to the UK will significantly enhance the competitiveness of labour-intensive sectors such as textiles and apparel, leather and footwear, gems and jewellery, marine products and processed foods, while also creating new opportunities for engineering goods, auto components, chemicals and other value-added manufacturing sectors. The Agreement also provides greater certainty for businesses through improved market access, transparent rules and a stable trading framework.
Equally important are the gains for India's services sector. Enhanced market access across IT, financial, professional, education and healthcare services, together with improved mobility provisions and the Double Contribution Convention, will strengthen the global competitiveness of Indian companies and professionals in the UK. Modern provisions on digital trade, government procurement, innovation, intellectual property, MSMEs and labour also make the Agreement future-ready, while creating new opportunities for startups, Global Capability Centres (GCCs) and collaboration in emerging technologies such as Artificial Intelligence (AI).
The Agreement also presents immense opportunities for Indian MSMEs to diversify exports, integrate into global value chains and access one of the world's most sophisticated markets. Indian industry is ready to leverage these opportunities through greater investment, innovation, quality enhancement and compliance with global standards.
The operationalization of the India-UK CETA is more than the commencement of a trade agreement, it is a strategic step towards strengthening India's global competitiveness, expanding economic opportunities and supporting the country's vision of Viksit Bharat 2047. CII is confident that Indian industry will fully capitalize on this landmark Agreement to deepen bilateral trade, create quality employment and drive sustainable economic growth", said Mr Banerjee.