Chhattisgarh Chief Minister Vishnu Deo Sai on Saturday described the India-UK Free Trade Agreement (FTA) as a "new chapter in India's journey of growth", and said it will empower agriculture, strengthen local industries and create new employment opportunities.
Sai said the achievement was a testament to Prime Minister Narendra Modi's visionary leadership, economic reforms and commitment to making the 'Vocal for Local' initiative a global movement, an official statement said.
The agreement will not only expand India's economic horizon, but more importantly, will offer states like Chhattisgarh that are rooted in agriculture, handicrafts, small-scale and cottage industries a historic opportunity to become part of global trade, Sai said.
He highlighted that under the India-UK FTA, 99 per cent of India's exports to the UK will now get duty-free access. This will directly benefit farmers, Micro, Small, and Medium Enterprises (MSMEs), artisans, weavers and traditional product manufacturers.
The CM noted that the agreement is expected to unlock trade opportunities worth an estimated USD 23 billion.
The FTA has brought new hope to agrarian and labour-intensive states like Chhattisgarh, he said, expressing confidence that the agreement will empower agriculture, strengthen local industries and create new employment opportunities for the youth.
The state government has been actively working to equip local producers with global-standard training, quality control mechanisms, and export facilitation centres, he added.
India on Thursday signed the FTA, officially dubbed as the Comprehensive Economic and Trade Agreement (CETA), with the UK that will cut tariffs on an array of items, besides boosting bilateral trade by around USD 34 billion annually.
The deal was signed by Commerce Minister Piyush Goyal and his British counterpart Jonathan Reynold in the presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer.
