As India-UK trade deal comes into effect, Fadnavis eyes global opportunities for Maharashtra

Maharashtra Chief Minister Devendra Fadnavis inaugurates the ceremonial cargo exchange marking the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) in Mumbai. PIC/X

Chief Minister (CM) Devendra Fadnavis on Wednesday said the implementation of the India-United Kingdom (UK) Comprehensive Economic and Trade Agreement (CETA) will create new opportunities for Maharashtra in global trade, investment, and exports, helping the state strengthen its position as a key driver of India's economic growth.

Speaking at the launch of the implementation of the India-UK Comprehensive Economic and Trade Agreement in Mumbai, Fadnavis said a progressive India requires a progressive Maharashtra and expressed confidence that the state's journey towards becoming a USD 1 trillion economy will play a significant role in India's goal of becoming a developed nation.

He said the agreement will provide industries across Pune, Nashik, Kolhapur, and Chhatrapati Sambhajinagar, along with the state's agricultural produce, direct access to global markets and help Maharashtra emerge as a "global growth engine".

Medical Education Minister Hasan Mushrif, Skill Development Minister Mangal Prabhat Lodha, Marketing and Protocol Minister Jaykumar Rawal, British Deputy High Commissioner Harjinder Kang, Special Secretary in the Union Commerce Department Suchindra Mishra, senior government officials, industrialists, and exporters were present at the event.

Fadnavis said India has witnessed several transformative milestones, from the 1991 economic reforms to the 'Make in India' initiative, and described the India-UK agreement as the next major step in that journey. He said the pact demonstrates India's growing confidence in negotiating trade agreements as a capable global partner.

The chief minister also lauded Prime Minister Narendra Modi, Union Commerce Minister Piyush Goyal, and UK Prime Minister Keir Starmer for their leadership in finalising the agreement.

According to Fadnavis, trade between India and the UK currently stands at USD 56 billion, with a target of doubling it by 2030. He said the agreement will provide duty-free access to a majority of Indian exports while boosting the services sector, professional mobility, investment, and innovation.

He said every tariff reduction under the agreement represents an opportunity for a micro, small and medium enterprise (MSME) to become a global exporter, for farmers to secure better prices, for engineers to develop products for international markets, and for young entrepreneurs to build globally competitive companies.

Emphasising Maharashtra's economic strength, Fadnavis said the state attracts 39 per cent of India's foreign direct investment (FDI) and leads the country in sectors such as finance, manufacturing, startups, data centres, information technology, pharmaceuticals, automobiles, and agricultural exports.

He said infrastructure projects including Atal Setu, the Samruddhi Mahamarg, Navi Mumbai International Airport, Vadhvan Port, the proposed 'Third Mumbai', an international Edu-City and Medi-City will further enhance Maharashtra's global competitiveness.

CM Fadnavis said the trade agreement would create significant opportunities for Maharashtra's engineering, automobile and auto component, pharmaceutical and chemical industries. He added that the information technology, fintech, Global Capability Centres (GCCs), educational institutions, and creative industries would also benefit from enhanced collaboration.

The agriculture sector is also expected to gain substantially, with products such as Nashik grapes, Konkan Alphonso mangoes, pomegranates, processed food, and marine products likely to receive better prices in premium markets such as the UK, he said.

Fadnavis urged entrepreneurs to think bigger and focus on global markets, while viewing the UK as a strategic partner in innovation, manufacturing, technology, and services.

He said the Maharashtra government remains committed to supporting industries, exporters and MSMEs through export facilitation, world-class infrastructure and an industry-friendly ecosystem.

Expressing confidence in the state's future, Fadnavis said Maharashtra would lead the country in converting the opportunities created by the India-UK trade agreement into investments, exports, industries, employment, and prosperity for citizens.

Maharashtra to benefit significantly from trade pact: Jaykumar Rawal

Marketing and Protocol Minister Jaykumar Rawal said the India-UK trade agreement has opened new opportunities for Maharashtra's agriculture, food processing, industry, services, and export sectors.

He said the agreement goes beyond tariff reductions and will strengthen investment, technology, innovation, and access to global markets.

Rawal said products such as Alphonso mangoes, grapes, pomegranates, oranges, onions, spices, and value-added agricultural produce from Maharashtra stand to gain from greater access to the UK market.

He added that the marketing department, in coordination with other government departments, would undertake awareness and guidance initiatives to help industries, exporters, entrepreneurs, and farmers leverage the opportunities created by the agreement.

India-UK pact to strengthen bilateral trade and investment: British Deputy High Commissioner

British Deputy High Commissioner Harjinder Kang said the implementation of the India-UK trade agreement would significantly boost trade, investment and economic cooperation between the two countries.

He said Maharashtra, being India's leading industrial and economic hub, should make the most of the opportunities arising from the agreement.

According to Kang, duties on 99 per cent of goods exported from India to the UK and 90 per cent of goods exported from the UK to India will either be reduced or eliminated under the agreement, resulting in stronger bilateral trade and economic growth.

He also said cooperation in education, climate change, defence, technology and security would be further strengthened under the UK-India Vision 2035 framework.

During the event, symbolic cargo boxes representing Indian exports to the UK and British exports to India were unveiled to mark the enhanced bilateral trade under the agreement.

A message from Industries Minister Uday Samant was read out at the programme, while Industries Department Principal Secretary Dr P Anbalagan and Protocol Department Secretary Dr Rajesh Gavande briefed the gathering on various aspects of the agreement.