Commerce and Industry Minister Piyush Goyal has said that the India-UK Comprehensive Economic and Trade Agreement (CETA) will help Indian farmers, fishmermen, artisans and small businesses to prosper globally and accelerate job creation. Writing an article for English daily, the Minister said that the agreement, which will come into force on 15 July this year, will provide comprehensive market access for Indian goods in the United Kingdom across a wide range of sectors. He said that it will immediately eliminate tariffs on about 99% of tariff lines, creating enormous opportunities for Indian exports.
Highlighting a significant aspect of the India-UK agreement, Mr Goyal said that the Agreement on Social Security, also known as the Double Contribution Convention (DCC), will exempt Indian professionals from making dual social security contributions in the UK during temporary assignments. He noted that the convention is expected to benefit more than 75 thousand Indian professionals and over nine hundred companies. The minister said that these trade agreements have also ensured the gradual opening up of the domestic market. He said that CETA is a benchmark for equitable and ambitious trade agreements between major economies.
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