India-UK FTA
Prime Minister Narendra Modi has reached Britain on a two -day visit, in the presence of the Prime Minister, the free trade agreement between India and Britain can be signed. Let us tell you that for the last three years, talks were going on between India and Britain about free trade grain (FTA). Here we will tell you how India will benefit from the implementation of FTA.
Britain’s market will open for farmers
After the FTA is implemented, premium markets will open for Indian agricultural products in Britain, which will benefit Indian producers equal to or even more than exporters of European countries like Germany and Netherlands.
Spices such as Indian turmeric, black pepper and cardamom, as well as mango pulp, pickle and pulses will be allowed to sell products in Britain without any import duty. This will make good profits to farmers and exporters and will also increase their reach.
Agricultural exports will increase so much three years
India’s agricultural exports in the next three years are expected to increase more than 20 percent of Britain. This increase will happen because no duty will be imposed on a large range of Indian agriculture and processed food products. As soon as the FTA is implemented, more than 95 percent of India’s agriculture and processed food products will be charged zero duty in Britain.
These include fruits, vegetables, grains, spices, fruit pulp, Ready to Eat Meal and many other products. This will reduce the price of these goods in Britain and Indian products will sell more in the general and Indian shops there.
With this agreement, India’s agricultural sector will move from large -scale production to high quality and high -profit products and farmers will not have to be limited to the domestic market only, as well as India has kept some of its most sensitive areas in this agreement. No fee exemption has been given on dairy products, apples, oats and edible oils so that farmers of these sectors of the country are not damaged.
Fruits, vegetables will also be exported
This agreement will also open opportunities for new and emerging products such as jackfruit, millets, vegetables and organic herbs, so that farmers will be able to diversify farming and better handle domestic prices.
These states of the country will benefit the most
The FTA will also benefit India’s fisheries industry, especially in coastal states like Andhra Pradesh, Odisha, Kerala and Tamil Nadu. 99 per cent of sea products like shrimp, tuna, fishmil and animal feed will no longer be imposed any import duty, while they are currently charged 4.2 to 8.5 per cent. This will give a tremendous boost to India’s market exports.
Britain’s maritime import market is $ 5.4 billion, which is a big opportunity for India’s Blue Economy. Apart from this, this agreement will also promote India’s exports of branded products such as coffee, tea, spices and other beverages.
Currently, the UK holds 1.7 percent share in India’s total coffee exports, 5.6 percent in tea and 2.9 percent in spices. With the end of the fee, these sectors will increase rapidly. Especially Indian instant coffee will help in combating European countries like Germany and Spain.