Prime Minister Narendra Modi on Wednesday welcomed the operationalisation of the India-United Kingdom Comprehensive Economic and Trade Agreement (CETA) and the Agreement on Social Security, calling it a significant milestone in bilateral relations.
Modi said the agreements would deepen economic ties between the two countries and convert their shared vision into concrete opportunities for citizens.
He said the CETA would provide fresh momentum to farmers, entrepreneurs and micro, small and medium enterprises (MSMEs), while enabling several key sectors to gain greater access to the UK market.
"This is a significant moment in the India-United Kingdom partnership! With the coming into force of the Comprehensive Economic and Trade Agreement and the Agreement on Social Security, our economic linkages are going to get even deeper.
Together, these agreements translate our shared ambition into tangible opportunities for our people," he said in a post on 'X'.
The Prime Minister said the social security agreement would support Indian professionals working temporarily in the UK and enhance the competitiveness of Indian businesses.
"This moment reflects the trust between our democracies and our resolve to build a forward-looking partnership driven by trade, technology, investment and innovation.
India and the UK will continue working together for shared prosperity," he said.
The India-UK free trade agreement came into force on Wednesday, triggering a series of tariff reductions aimed at expanding the movement of goods and services between the two nations.
Signed in July last year, the CETA is expected to help double bilateral trade from the current estimated annual level of 48 billion pounds by 2030. The pact is also projected to raise the GDPs of both countries by nearly five billion pounds annually over the long term.
(With inputs from PTI)
