Business News | India-UK CETA Enters Implementation Phase; Success to Be Measured by Jobs, Business Uptake: Rajesh Agarwal
Get latest articles and stories on Business at LatestLY. With the India-UK Comprehensive Economic and Trade Agreement (CETA) now in force, the focus must shift from negotiations to implementation, with its success ultimately measured by business adoption, jobs and investment, Commerce Secretary Rajesh Agarwal said on Wednesday.
New Delhi [India], July 15 (ANI): With the India-UK Comprehensive Economic and Trade Agreement (CETA) now in force, the focus must shift from negotiations to implementation, with its success ultimately measured by business adoption, jobs and investment, Commerce Secretary Rajesh Agarwal said on Wednesday.
Speaking at a press conference to mark the implementation of the India-UK CETA, Agarwal said the agreement represents the beginning of a new phase in India-UK economic ties and called on industry to translate the opportunities created by the pact into tangible outcomes.
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"If we are able to actually convert these opportunities into real outcomes, it will mean jobs and livelihoods for people on both sides. That is the real outcome of this agreement that we are looking at," he said.
Agarwal said the Department of Commerce will work with Export Promotion Councils (EPCs) and industry clusters across the country to explain sector-specific opportunities under the agreement so that businesses of all sizes can benefit.
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"We will try to get as granular as possible... so that every entrepreneur, whether it's a startup, new MSME, or a large company, can plan and try to see how they can benefit from this agreement," he said.
Highlighting the industry's immediate response, the Commerce Secretary said goods worth more than USD 140 million were being shipped to the UK on the very first day of the agreement's implementation, with certificates of origin being issued and customs systems fully prepared to facilitate exports.
UK High Commissioner to India Lindy Cameron said the agreement marks a major milestone in bilateral relations and lays the foundation for deeper economic cooperation.
"This is one of the biggest trade deals of modern times... It provides the framework that will allow our businesses to trade more, invest more, innovate more, and grow better together," Cameron said.
She added that the agreement's impact would ultimately be judged by the opportunities it creates. "The success of this deal will be measured by the businesses that use it, by the jobs it supports, by the investment that it attracts, and by the prosperity that it creates over both of our nations in the long run," she said.
Industry representatives from sectors including gems and jewellery, sports goods, handicrafts and information technology also welcomed the agreement, saying it is expected to create new opportunities for exports, investment and long-term business collaboration between India and the United Kingdom. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)