On Thursday, an agreement on free trade in India UK (FTA) was signed and formalized. Trade and Minister of Industry Piyush Goyal and State Secretary for Business and Trade Jonathan Reynolds signed an agreement in the presence of Prime Minister Modi and Prime Minister Keir Starmer from the UK.
India-UK FTA represents an important milestone in involvement of India with the main developed economies. “The United Kingdom introduces a red carpet for” Made in India “,” Piyush Goyal published on X. The agreement is expected to strengthen a bilateral trade between the two countries by $ 34 billion a year.
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Here is what India-KUS FTA offers to Indians:
For professionals and workers
“Large overseas journeys are opening for qualified workforce in India,” the government said, adding that the agreement provides more access to the market and services supporting IT, financial and legal services, professional and educational services and digital trade.
Indian experts, including those deployed by companies to work in the UK in all sectors of services, professionals deployed on contractual contracts such as architects, engineers, chefs, yoga instructors and musicians will benefit from simplified visa and liberalized entry categories.
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1. 75,000 Indian experts are exempt from the British social security payment for 3 years. Indian experts can work in 35 British sectors for 24 months, even without the British office. More than 1800 chefs, yoga experts and musicians can work in the UK every year.
Union Minister Piyush Goyal said, “People from India who come to the UK to work for a short period of time have suffered about 25 percent of losses before they had no benefits or pension for social security payments.
2. Independent experts and service providers such as IT, engineering and architecture will be able to work for up to 12 months in the UK. Applicants must meet the immigration requirements in the UK, including thresholds and documentation to be eligible.
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3. Access to 36 services without a test of economic needs for Indian companies and independent workers
4. Indian investors and postgraduate trainees will continue to benefit from existing British programs, with the capacity to prevail immigration rules.
Clothing and fabric
Almost 1000% of the business value of India will be without duty
1. Indian exporters, especially in textiles and clothing, are expected to obtain tariffs. Companies such as Welspun India, ArvIND LTD, Raymond and Vardhman can benefit from duty -free access to the British market.
2. From 16% to zero: free access to skin and shoes
3. Duty -free access to the market with British gems and jewelry
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Medical sector
1. Access to zero services for Indian generic drugs.
2.Medical products produced in India do not attract any obligation. Surgical tools, diagnostic equipment, ECG machines, X -ray systems export.
Farmers, exports and blue economy
The government expects more income for farmers and increased occupational employment.
1. 99% of Indian exports to Great Britain will have zero access
2. Indian farmers will gain access to the British and agricultural markets and premium buyers in the UK. FTA also provides duty -free exports of almost 95% of agricultural products, while Fisherfolk gains 99% of sea exports from zero duties, which increases its income.
3. Free access to our immediate coffee, tea, spices and rubber and processed goods such as mango, pulp, cucumber, legumes and ready to eat. Darjeeling tea exports from West Bengal and Arak from Andr Pradesh are likely to rise.
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4. No customs concessions in sensitive sectors (dairy products, oats, apples, edible oils). This agreement will also provide the Indian consumer with high quality goods at competitive prices.
5. Zero-service for 99% of sea exports. Coast states such as West Bengal, Odisha, Andhra Pradesh, Tamil Nadu, Kerala, Karnataka, Goa, Maharashtra and Gujarat, which benefit from export creation.
6. Indian fishermen have a greater opportunity to expand to the British Maritime Market of $ 5.4 billion.
(Tagstotranslate) Indian experts work in the UK
