Exports to Britain can double after FTA: ASSOCHAM

 

The India-UK Comprehensive Economic Trade Agreement (CETA) could help double the country’s exports to Britain in the next six years if implemented effectively, said Mr Sanjay Nayar, President of ASSOCHAM and Founder-Chairman of the Sorin Investment Fund. India needs to grow exports beyond services into goods and trade. This agreement provides a huge opportunity. He said the deal gives the country a clear path to expand its reach in sectors such as pharmaceuticals and electronics. The ambitious goal under the pact is to push bilateral trade to $120 billion by 2030, a major jump from current levels.  It covers not only tariff reductions but also liberalisation of services, easier investment procedures, improved professional mobility, and even access to public procurement in the UK. This FTA opens up the UK public procurement infrastructure for Indian IT companies, construction firms, and medical sector businesses, he added, as per a report.

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