India-UK trade deal: CETA opens duty-free access for Indian seafood; exporters eye 70% growth boost
The India-UK Comprehensive Economic and Trade Agreement (CETA) is likely to provide a major boost to India's seafood and export sectors. The landmark pact was signed on Thursday, in the presence of Prime Minister Narendra Modi and UK Prime Minister Keir Starmer and was formalised by commerce minister Piyush Goyal and UK secretary of state for business and trade Jonathan Reynolds.
As per news agency ANI, the agreement is expected to significantly benefit India's marine exports by scrapping UK import tariffs that previously ranged from 0 to 21.5 per cent. These included duties on shrimp, squid, frozen pomfret, lobsters, and other seafood items under HS Codes 03, 05, 15, 23, 95, and 1603 to 1605.
With CETA now in effect, all marine products in tariff category 'A' receive full duty exemption.
However, certain prepared seafood items under HS 1601 remain excluded from benefits.
India exported $104 million worth of seafood to the UK in 2024–25, with frozen shrimp accounting for $80 million alone. Despite this, India's share in Britain's $5.4 billion seafood market stands at just 2.25 per cent.
Industry estimates now predict a 70 per cent increase in exports to the UK, supported by improved cost competitiveness, according to ANI.
The fisheries sector supports nearly 28 million livelihoods in India and accounts for 8 per cent of global fish production.
Over the past decade, seafood export volume jumped 60 per cent and value grew 88 per cent.
According to ANI, the number of destinations expanded from 100 to 130 countries, and value-added product exports tripled to Rs 7,666 crore, reflecting a shift towards premium markets.
CETA helps India level the field with countries like Vietnam and Singapore, which already enjoy UK duty benefits through their respective FTAs.
This removes a key disadvantage previously faced by Indian exporters, especially for high-value products.
States like Kerala, Tamil Nadu, Gujarat, Maharashtra, and Andhra Pradesh are well-positioned to lead this export surge, especially if they continue to align with the UK's sanitary and phytosanitary standards.
Experts say the deal's scope goes beyond seafood. The landmark agreement provides zero-duty access to 99 per cent of tariff lines, with a key focus on labour-intensive areas other than seafood like textiles, leather, and gems and jewellery.
It is expected to drive up exports in consumer goods, apparel, cosmetics, auto parts, and jewellery. As per news agency PTI, EY India's Agneshwar Sen believes that Indian MSMEs and job creation in labour-heavy sectors would benefit, while UK firms gain deeper access to India's growing market.
The agreement also marks progress in services trade. ICRA chief economist Aditi Nayar was quoted by PTI as saying that India stands to gain from UK concessions in IT, financial services, education, and professional mobility.
An added social security pact allows Indian professionals to be exempt from UK contributions for three years, making overseas employment more financially viable.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
9 minutes ago
- Indian Express
Redesigned with reader at core, The Indian Express app is now available on iOS and Android
The Indian Express' redesigned app for iOS and Android is faster, smarter, and deeply personal for every reader. With a refreshed look and navigation, the app offers a brand new way to access the best journalism in India in a more intuitive and deeply personalised way. The Indian Express' redesigned app for iOS and Android is faster, smarter, and deeply personal for every reader. With a refreshed look and navigation, the app offers a brand new way to access the best journalism in India in a more intuitive and deeply personalised way. Redesigned for the mobile-first generation and based on both user feedback and subscriber insights, the new app focuses on cutting the clutter by showcasing the best of Indian Express along with what each reader finds most relevant. Balancing speed and depth, the app brings Express subscribers to the core, ensuring they have all the answers when they want it. The app comes at a time when more Indian readers are moving towards a direct relationship with their trusted news sources. With the advent of AI, readers are now unsure about the veracity of content they see on large tech platforms, doubting the source of these stories. The Indian Express app offers direct access to verified news to millions of readers, keeping them ahead of the curve at all times. Says Sanjay Sindhwani, CEO, Indian Express Digital: 'In a world moving faster than ever, information is the new currency—and the all-new Indian Express app is your key to staying on the front foot. With lightning-fast updates, hyper-personalised alerts and immersive storytelling, our app delivers the news that shapes your tomorrow, today. Download now—because when the story breaks, you can't afford to be the last to know.' What's new? At the core of the revamped app is a cleaner, clutter-free, and more responsive UI/UX that makes navigating effortless. The app also adapts seamlessly on larger screens of foldables and tablets. One of the new standout features is the ' Curated For You ' widget, a personalised recommendation engine powered by machine learning. The widget shows stories tailored to the reader's interests and location, ensuring content relevant to the specific user is accessible at all times. Express Shorts, which has won accolades for offering news in consumable chunks, is now completely native in the app. Shorts offer a smoother way to catch up on news in a glance-friendly format. Another intelligent addition is the ability to save and organise articles in folders, allowing users to group related stories in one place. This is particularly beneficial to the thousands of UPSC aspirants who read Express daily. The app now has a redefined search function that offers broader, more accurate results from across categories, authors, and multimedia. Customisation at the core Customisation is at the heart of the new design. The top navigation bar now adapts to a user's preferences, as they can now choose their topics of interest and reorder sections based on their reading preferences. When it comes to engagement features, the app now offers native crossword and puzzle sections, which are now easily accessible within the app. The app now supports Picture-in-Picture (PiP) mode for video playback, allowing users to continue navigating the app while the video plays in a floating window. Podcasts also get a power boost, as they can now play in the background even after the app is closed, just like any media player. Other upgrades include a new 'Latest' tab in the bottom navigation bar that brings together all the freshest updates in one place. Additionally, the Profile tab now shows users stats such as the number of articles read, videos watched, podcasts played, and time spent in the app. The app also offers native subscriptions now via both the App Store and Play Store with easier payment methods and renewal options. This ensures that readers never lose access to premium content owing to missed renewals.
Hindustan Times
10 minutes ago
- Hindustan Times
Congress chief's 'Vishwaguru's daawat' dig after Amit Shah attacks Gaurav Gogoi over Pakistan visit
Leader of Opposition in Rajya Sabha and Congress president Mallikarjun Kharge, speaking during the monsoon session of Parliament, on Tuesday launched a veiled attack on Prime Minister Narendra Modi over his visit to Pakistan and accused the Bharatiya Janata Party of hypocrisy in dealing with Pakistan and running a 'factory of lies'. Congress President and Rajya Sabha LoP, Mallikarjun Kharge, during the Monsoon Session, on Parliament premises in New Delhi.(ANI) Addressing the Upper House during a debate on the Pahalgam terror attack and Operation Sindoor, Kharge said, 'We have always condemned Pakistan. But while we condemn them here, you attend their 'daawats' and hug them. You have a habit of going places uninvited. None of the members present in this House went there. But over there, a friend, a Guru, or perhaps a Vishwaguru showed up…' Also Follow | Parliament Monsoon Session live updates Without naming anyone directly, the Congress leader's remarks appeared to target PM Narendra Modi over his meeting with his then Pakistani counterpart, Nawaz Sharif, during a surprise visit to Lahore in 2015. Kharge's swipe comes shortly after Union home minister Amit Shah lashed out at Congress MP Gaurav Gogoi, claiming he visited Pakistan "many times", and urged the leader to visit the border as well to witness the plight of Indian soldiers. Also Read | 'Bharatiye the': Priyanka Gandhi shuts down Pahalgam victims 'Hindu' chorus Reacting to Amit Shah's attack, Gaurav Gogoi said he visited the neighbouring country before Modi went there "to eat biryani". Participating in the debate on Operation Sindoor in Lok Sabha, Amit Shah heaped praise on India's move, and also hailed the killing of three terrorists who were involved in the April 22 Pahalgam terror attack. Also Read | Voter IDs, chocolate wrappers were from Pakistan: Amit Shah on proof of Pahalgam terrorists' origin Kharge also underlined the Congress party's legacy in nation-building and contrasted it with what he described as the ruling party's focus on misinformation. 'We have a long and proud history, my party does. The contribution we have made in building this nation is unmatched. All you have done is set up a factory of lies,' he said.
Hindustan Times
10 minutes ago
- Hindustan Times
India set to become 2nd-best represented nation in Times Higher Education rankings
New Delhi, India is set to break new records and become the second-best represented nation in the world, behind only the US, in the 2026 edition of Times Higher Education ranking, according to Times Higher Education's Chief Global Affairs Officer Phil Baty. India set to become 2nd-best represented nation in Times Higher Education rankings The comments were made by Baty in a statement on the occasion of the fifth anniversary of the new National Education Policy . "In the 2026 edition of the world rankings, to be published at the World Academic Summit on 8 October this year, India will break new records to become the second best represented nation in the world, behind only the US. So the data is clear that India's universities are increasingly rubbing shoulders with the world's global research elite. "But based on an additional, very different set of performance metrics based on their social and economic impact, India's universities are also starting to really shine," he said. The Times Higher Education Impact Rankings assess universities' social and economic impact based on their contributions to the United Nations Sustainable Development Goals . Universities are examined on their teaching, research, community outreach and the stewardship of their resources across hundreds of metrics based on all 17 of the UN SDGs. Baty noted that India's National Education Policy of 2020 was so pioneering and so bold that many said at its launch five years ago that it was simply too ambitious to succeed. "...but exactly five years since the NEP 2020 was formally launched, there is a growing body of independent evidence that, despite the dramatic disruption of the COVID pandemic, the bold vision is rapidly becoming a reality. "Certainly, regarding ambitions to improve higher education quality and to finally embrace the full internationalisation of Indian higher education, Times Higher Education's data is clear the plans are working," he said. In 2019, the year before NEP2020, India had 49 universities in the rankings – a share of around four per cent of all ranked universities. In the 2026 edition, India's representation will have almost tripled to 128 ranked universities, representing nearly six per cent of all ranked universities. "This remarkable achievement reflects a nation-wide commitment from Indian universities to collect better data, to step forward and subject themselves to global data benchmarking, to put themselves on the world stage alongside the top research universities worldwide and most importantly to be a visible and active part of the global academic community, where research collaboration and talent exchange can help them to thrive further. "And it is not just in representation where India is showing exceptional progress. There are improvements in quality too. So the data is clear that India's universities are increasingly rubbing shoulders with the world's global research elite. But based on an additional, very different set of performance metrics based on their social and economic impact, India's universities are also starting to really shine," he said. This article was generated from an automated news agency feed without modifications to text.
