Keralam is expected to benefit across multiple export-oriented sectors under the India-UK Comprehensive Economic and Trade Agreement (CETA), with tariff reductions set to make trade between the state and the United Kingdom faster, easier and more cost-effective, British Deputy High Commissioner to Tamil Nadu, Keralam and Puducherry, Sutapa Choudhury said.
Speaking to ANI during her visit to Thiruvananthapuram, Choudhury said the agreement, which came into force on July 15, is expected to significantly boost bilateral trade between India and the UK over the long term. "We're really excited about the increase in bilateral trade between the two countries, projected to grow by £25.5 billion in the long run. Your state of Kerala stands to gain in a multitude of sectors, from marine products to textiles, yoga and wellbeing, all of the key strengths of Kerala where we're going to see tariff lines eliminated fully or reduced," she said.
She added that the agreement would create "a much easier, faster and cheaper way of doing trade between Keralam and the UK."
Highlighting the state's export infrastructure, Choudhury said Keralam is well placed to take advantage of the trade agreement. "Kerala has got a really strong infrastructure to support a trade deal like this. Last night I went to visit the Vizhinjam Port myself and I saw what great potential there is both for the State but also for India and South Asia more widely," she said.
She added that exporters from sectors in which Keralam has established strengths are expected to benefit from the agreement.
The India-UK Comprehensive Economic and Trade Agreement, brought into force on July 15, aims to strengthen bilateral trade and investment by improving market access and reducing tariffs across multiple sectors. The agreement is expected to support trade, investment and business opportunities between the two countries.
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