NEW DELHI: Vice President CP Radhakrishnan on Wednesday welcomed the operationalisation of the India-UK Comprehensive Economic and Trade Agreement (CETA), describing it as a significant milestone in the enduring partnership between the two countries.
He said the landmark achievement reflects India's growing economic strength and global engagement under the leadership of Prime Minister Narendra Modi.
The free trade agreement between India and the United Kingdom came into force on Wednesday and is set to unleash a flurry of tariff cuts that will catalyse bilateral trade through greater two-way movement of goods and services.
The CETA was signed in July last year.
"These agreements will significantly expand market access, strengthen trade and services, and facilitate greater mobility for professionals, creating new opportunities for our businesses, entrepreneurs, farmers, manufacturers, MSMEs, and skilled workforce," Radhakrishnan said in a social-media post.
He said it will also unlock immense potential for sectors, such as textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods.
"I am confident that this new chapter in India-UK relations will contribute to shared prosperity, innovation, and sustainable economic growth, while further deepening the bonds of friendship between our two nations," Radhakrishnan said.