'India-UK Trade Deal A Big Win For Brand Modi, Will Boost Farmers, Techies, Job Creation'

(MENAFN- IANS) New Delhi, July 24 (IANS) The India-UK trade agreement, signed in the presence of Prime Minister Narendra Modi and his UK counterpart Keir Starmer, has strengthened Brand Modi on the global stage, finance experts said on Thursday.

Speaking to IANS, Ajay Rotti, a renowned financial expert, said the successful conclusion of this complex deal, especially at a time when global trade negotiations are facing hurdles, reflects Prime Minister Modi's leadership and India's rising stature in global geopolitics and economy.

Rotti called the deal a landmark moment, not just for diplomacy, but also for its practical benefits to India's farmers, exporters, and professionals.

"The Comprehensive Economic and Trade Agreement (CETA) gives Indian agricultural products -- including millets, jackfruit, and processed seafood -- zero-tariff access to the UK market," Rotti told IANS.

"This move is expected to boost the incomes of Indian farmers, while sensitive areas like dairy have been kept out of the deal to protect small and marginal farmers at home," he added.

He added that the Indian gem and jewellery sector, which has been struggling to regain momentum, is also likely to benefit.

"With relaxed norms for finished and gold jewellery exports, the industry is expected to see a turnaround in overseas demand, particularly from the UK," Rotti emphasised.

Rotti added that the agreement is India's biggest trade deal so far and the UK's most significant one after Brexit.

"For Indian tech professionals, one of the biggest wins is the exemption from social security contributions while working short-term in the UK," he stated.

"This avoids the problem of double deductions and will make Indian talent more competitive. Faster visa processing will also make it easier for Indian techies to explore career opportunities in the UK."

The deal also offers a major boost to India's chemical industry. With zero-tariff access to the UK and improved mobility for skilled workers, Indian chemical firms will be better placed to participate in global value chains.

According to Rotti, the agreement will lead to job creation in both countries. As Indian companies expand their presence in the UK and British firms invest more in India, thousands of new jobs will be generated.

"This job creation will also be indirect, as increased exports and production will drive more employment at the grassroots level in India," he said.

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