Hyderabad: The Union government on Wednesday, July 15, flagged off UK-bound export consignments from Telangana, marking the launch of the India-UK trade pact.
India and the UK operationalised a free trade agreement under which a host of domestic goods will enter the British market at zero duty.
Export flag-off events were organised at Nizamabad and Hyderabad to mark the entry into force of the India–UK Comprehensive Economic and Trade Agreement (CETA).
Flagging off the consignments at the Inland Container Depot (ICD) here, Telangana government’s Special Secretary, Department of Industries and Commerce, Krishna Aditya, said the agreement marks a significant milestone in India–UK economic relations and will substantially improve market access for Indian exporters, an official release said.
He said the reduction of tariffs on a large number of products would enhance the competitiveness of exports from Telangana and create new opportunities for export-oriented industries.
Sampath Kumar, Additional Director General of Foreign Trade, Hyderabad, said the India–UK CETA would provide preferential tariff access across a wide range of products and significantly enhance export opportunities for Indian businesses in the UK market.
National Turmeric Board Secretary Bhavani Sri said the benefits of the Agreement would extend to industries of all sizes, including MSMEs. She noted that Telangana’s strengths in pharmaceuticals, chemicals, electronics and food processing position the State to leverage the opportunities created under the Agreement.
Siddharth Viswanathan, Head of Trade and Investment, UK High Commission, described the India–UK CETA as a “landmark agreement” that would facilitate trade through improved market access, streamlined customs procedures and simplified documentation, thereby strengthening bilateral trade and investment.
RP Naidu, Regional Head, APEDA (Telangana and Andhra Pradesh), said the agreement offers significant opportunities for exports of APEDA-scheduled products, including agricultural products, processed foods, dairy products, confectionery and millets, the release added.
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