London, July 24 Union Commerce Minister Piyush Goyal on Thursday said that it took over two decades to finalise this historic FTA with the UK.
After Prime Minister Narendra Modi gave it a momentum in 2021, brought it back into focus and committed to getting it done, India started working on it consistently, and we can see the positive results today, the minister told IANS here on the sidelines of the India-UK talks.
“This is historic in itself. It took over two decades to finalise this FTA. But when Prime Minister Narendra Modi gave it momentum in 2021, brought it back into focus and committed to getting it done, India started working on it consistently,” he told IANS.
“In the UK, several governments came and went, but the discussions continued without interruption. I believe this agreement will open immense opportunities in India, for our farmers, MSMEs, and small entrepreneurs,” Goyal added.
Goyal congratulated Prime Minister Narendra Modi, UK Prime Minister Keir Starmer, and the people of India and the United Kingdom on the signing of the landmark India-UK Comprehensive Economic and Trade Agreement (CETA).
“Duty-free access for about 99 per cent of Indian exports unlocks nearly $23 billion in opportunities for labour-intensive sectors, marking a new era for inclusive and gender-equitable growth,” said the minister.
According to Goyal, CETA is a “win-win” for the government’s flagship initiatives like ‘Make in India’ and ‘Vocal for Local,’ as it drives job creation and strengthens India’s strategic position in global trade.
The FTA was inked by Goyal and UK Secretary of State for Business and Trade, Jonathan Reynolds, after negotiations concluded earlier this year.
"This deal will transform the lives of artisans, weavers, and daily-wage earners employed in sectors such as textiles, leather, footwear, gems and jewellery, toys, and marine products," Goyal highlighted.
--IANS
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