How Will Maharashtra Benefit from the Indo-UK Trade Agreement?
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Synopsis
Maharashtra's Chief Minister Devendra Fadnavis has announced major advantages for the state from the India-UK Trade Agreement. This agreement promises significant benefits for farmers, artisans, and various sectors, paving the way for a prosperous economic future.
Key Takeaways
- Farmers in Maharashtra to benefit from increased exports.
- Zero-duty access for Kolhapuri leather products.
- Services sector to enjoy enhanced market access.
- Significant trade growth expected by 2030.
- Streamlined visa procedures for Indian professionals.
Mumbai, July 24 (NationPress) Maharashtra's Chief Minister Devendra Fadnavis announced on Thursday that the state is poised to reap substantial benefits from the groundbreaking India-UK Trade Agreement. In a post shared on X, Fadnavis expressed his gratitude, stating: “Congratulations to Hon PM Narendra Modi Ji for this significant India–UK Free Trade Agreement, which offers considerable advantages to Indians, particularly benefiting Maharashtra’s farmers, artisans, and service sector!”
He elaborated: “Farmers in Maharashtra are expected to benefit from enhanced exports of mangoes, grapes, jackfruits, millets, and organic produce. There will be improved international reach and profit margins for turmeric, pepper, and cardamom. The Kolhapuri leather footwear industry will receive a significant boost with zero-duty access for leather products and footwear, enhancing the competitiveness of MSME hubs like Kolhapur on a global scale. This visionary agreement opens new avenues for Maharashtra's rural economy and traditional industries. I extend my gratitude to PM Modi for empowering our farmers and artisans on the international platform.”
The government release indicated that this Free Trade Agreement (FTA) marks a pivotal step in India's collaboration with major developed nations, highlighting a mutual commitment to strengthening economic integration.
As the world’s fourth and sixth largest economies, India and the UK’s bilateral interactions hold significant global economic importance.
The signing of the India-UK Comprehensive Economic and Trade Agreement (CETA) follows the successful conclusion of negotiations announced on May 6, 2025. Current bilateral trade between the two nations stands at approximately $56 billion, with a target to double this figure by 2030.
CETA guarantees unprecedented duty-free access for 99 percent of India’s exports to the UK, encompassing nearly the entire trade spectrum.
This is anticipated to unlock new opportunities for labor-intensive sectors such as textiles, marine products, leather, footwear, sports goods, toys, and gems and jewellery, alongside rapidly growing industries like engineering goods, auto components, and organic chemicals. The services sector, a vital component of India’s economy, will also enjoy extensive benefits.
The agreement facilitates improved 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 the UK across various service sectors, and those on contracts such as architects, engineers, chefs, yoga instructors, and musicians, will benefit from streamlined visa processes.
CETA is expected to significantly enhance trade volumes in the upcoming years, leading to job creation, increased exports, and fostering a deeper, more resilient economic partnership between India and the United Kingdom.
Point of View
It's vital to recognize the significance of the India-UK Trade Agreement for Maharashtra. This initiative not only promises to uplift the local economy but also aims to strengthen India’s ties with major economies. It’s a step towards empowering our farmers and artisans while enhancing global trade relations.
NationPress
26/07/2025
Frequently Asked Questions
What sectors will benefit from the India-UK Trade Agreement?
The sectors poised to benefit include agriculture, textiles, leather, marine products, IT services, and more, enhancing global competitiveness.
How will farmers in Maharashtra gain from this agreement?
Farmers will see increased exports of key agricultural products like mangoes, grapes, and organic produce, leading to better income opportunities.
What is the goal for bilateral trade between India and the UK?
The goal is to double the current bilateral trade of approximately $56 billion by 2030.
What does CETA stand for?
CETA stands for the India-UK Comprehensive Economic and Trade Agreement.
What advantages does the agreement provide for professionals?
It offers simplified visa procedures for Indian professionals across various sectors, enhancing employment opportunities in the UK.
