Vijayawada: AP Chambers’s president Potluri Bhaskara Rao has welcomed the successful conclusion of the India–UK Free Trade Agreement, calling it a historic step towards boosting exports, generating employment, and accelerating India’s economic growth.
Speaking to media here on Wednesday Bhaskara Rao said that this FTA offers zero-duty access to 99 per cent of Indian exports, opening up major opportunities for sectors crucial to Andhra Pradesh, including textiles, pharma, leather, marine products, engineering goods, and food processing. Most of the sectors have been struggling for the past couple of years due to world recession and Russia-Ukraine war. This deal will significantly enhance economic activity and global competitiveness of our MSMEs and exporters.
He particularly highlighted the benefits in services, noting that India has secured strong commitments in IT, professional, and educational services, with eased mobility for professionals and a three-year exemption from UK social security contributions, making Indian service providers more competitive. This will open plenty of opportunities to AndhraPradesh’s professionals and youth.
