India and the United Kingdom have officially commenced the implementation of their landmark Comprehensive Economic and Trade Agreement-CETA.

 

To mark the beginning of this new economic era between the two nations, British Deputy High Commissioner Steve Hickling and the Joint Director of the Directorate General of Foreign Trade, Dr. Rahul Singh today flagged off the first export consignments under the agreement at the Inland Container Depot-ICD in Sanand, Ahmedabad. Valued at over 3.07 crore rupees, this maiden shipment showcases Ahmedabad’s manufacturing excellence, encompassing industrial equipment, pharmaceuticals, automobiles, polymers, and textiles from seven key regional exporters.

 

Speaking on the occasion, the British Deputy High Commissioner emphasised that the Trade Agreement goes far beyond immediate commercial exchanges, signalling the start of a much stronger and broader economic and political relationship between the two nations. Mr Hickling highlighted that the agreement is projected to increase the annual trade volume, which currently stands at 48 billion pounds, and boost the GDP of both countries by at least 5 billion pounds every year.

 

Joint Director of the DGFT, Dr. Rahul Singh, informed that Key sectors such as textiles, leather, pharmaceuticals, and engineering products will enjoy complete duty-free access, which is expected to heavily drive export growth from major manufacturing hubs, particularly Gujarat.