India-UK Trade Deal To Boost Haryana MSMEs, Auto, Textiles And Services: CM Saini

Chandigarh, Aug 19 (KNN) Haryana's MSMEs, industries, farmers and services sector are expected to gain from the India-UK Comprehensive Economic and Trade Agreement (CETA), which provides duty-free access to nearly 99 percent of India's exports to the UK.

The agreement came into effect on July 15, with several products that earlier faced tariffs ranging from 4 percent to 70 percent now receiving zero-duty access to the British market.

Chief Minister Nayab Singh Saini said the pact would improve the competitiveness of Haryana-made products, support integration with global value chains and help drive investment, production and employment, reported Times Of India.

"Haryana has strong manufacturing, agriculture, automobile, engineering, textile and services sectors, which can significantly benefit from the agreement," Saini said.

Key Haryana Sectors to Benefit

Key sectors expected to benefit include textiles and apparel, leather and footwear, gems and jewellery, chemicals, engineering goods, auto components, machinery, pharmaceuticals, processed food, handicrafts and ceramics.

Panipat's textile and home-furnishing industry, the Gurugram-Manesar automobile and auto-component cluster and Faridabad's engineering and manufacturing units are among the sectors expected to gain from expanded market access.

MSMEs and Agriculture to Gain

Haryana MSME Commissioner and Secretary Amit Aggarwal said engineering and auto-parts manufacturers had started benefiting from the agreement, with the first consignment of fasteners from Haryana to the UK dispatched on July 15.

Tariff removal is expected to boost labour-intensive sectors, MSMEs, artisans and small exporters, while supporting production and employment. Agriculture and food processing could also benefit from duty-free access to most Indian agricultural exports, creating opportunities for FPOs, farmers and agro-processors.

The agreement also provides access to 137 services sub-sectors, including IT, professional services, telecom, finance and education, benefiting Gurugram-based software, BPO, consulting and digital-services firms.

Professional Mobility to Boost Competitiveness

Provisions facilitating the movement of Indian professionals to the UK, along with exemptions from UK social-security contributions for up to three years in eligible cases, are also expected to improve the competitiveness of Indian service providers.

Saini said the trade agreement should be viewed not only as an export opportunity but also as a catalyst for investment, employment and deeper integration of Haryana's economy with global markets.

(KNN Bureau)