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UK FTA will augur well for opportunity in processed food: Experts
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Monday, 19 May, 2025, 08 : 00 AM [IST]
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Ashwani Maindola, New Delhi
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The UK-India Free Trade Agreement was signed in the first week of May 2025 aimed at doubling the present trade of 60 billion USD between the two sides by 2030.
Experts welcomed the move, wherein the investment and opportunity likely to increase in the agri and processed food/beverage sector including collaboration in new technologies, advanced manufacturing, and clean energy.
Professor Arpita Mukherjee, ICRIER, said that the tariff reduction in specific agricultural commodities on both sides would have a direct impact on trade between India and the UK.
“Both India and the UK are large agri-exporters and have strong interest in each other’s market. The UK had very few commodities where there were high tariffs and agri products is one of them. The agreement aimed to secure lower tariffs and market access for Indian products like tea, spices, rice, prawns, and ready-to-eat food. Tariffs for the imports from the UK in products like scotch whisky, soft drinks, salmon, lamb, gingerbread, biscuits, non-alcoholic beer and chocolate have been reduced. But this is not the first trade agreement where India offered tariff reduction in such products. It was done with Australia and EFTA countries, and more recently to US-made bourbon whisky. The biggest beneficials are the growing middle-class Indian consumers. The duty reduction in intermediate products will help more 'Make in India'”, said Prof Mukherjee.
She elaborated the terms of the agreement and said that the Indian negotiators have also protected the domestic sensitive sectors like chicken and fresh and skimmed milk while the the Agreement refers to (a) faster processing at customs, reductions in technical barriers to trade (b) mutual and other agreements to recognise and facilitate digital systems and paperless trade, and processes to reduce standards and sanitary and phytosanitary (SPS) barriers, which will lead to trade openness and reduction of non-tariff measures, if properly implemented.
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