Piyush Goyal lists economic benefits of ‘historic' trade pact signed b/w India-UK

Time of India

5 days ago

On India-UK FTA, Union Minister of Commerce Piyush Goyal said, "A fantastic FTA (Free Trade Agreement) has been signed between India and the UK today. Under the leadership and guidance of PM Modi, through this FTA, India opened the avenue to several opportunities by safeguarding all its interests. Every sector that remains sensitive for India - for our farmers, MSMEs, like dairy, rice and sugar have not been opened. All these sectors have been safeguarded. The necessities for India where India will benefit in getting things from UK have been especially focused on. Sectors where India is competitive and has a comparative advantage over other countries, especially in labour-oriented sectors, textiles, footwear, leather, toys, furniture, pharmaceuticals and others - such markets in the UK will open for India; duties will be brought down to 0 and there will be immense opportunities for our workers, farmers, MSMEs and women...People from India who come to the UK to work for short duration suffered around 25% losses earlier - they did not receive any benefit or pension for social security payment. Now, they will get to deposit that money in their PF account in India. So that this money will be their savings...and not go to waste..."
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