Piyush Goyal announced the finalisation of the India-UK Free Trade Agreement, a pact concluded after nearly twenty-three years of discussions. The agreement provides duty-free access to 99 percent of Indian exports into the UK, benefiting labour-intensive sectors such as textiles, footwear, leather goods, and pharmaceuticals. A key highlight is the protection of India’s sensitive sectors, with no concessions made for dairy products. A significant development for India’s services sector is the Double Contribution Convention Agreement. Goyal stated, "I would like to draw your attention to a major achievement of the FTA, the Double Contribution Convention Agreement." This provision exempts Indian professionals on short-term deployment in the UK for up to three years from making social security contributions there, allowing them to save that amount in their Indian provident fund accounts instead. The agreement is presented as a balanced, win-win partnership aligned with the vision for a developed India.
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