India’s processed food exports to the UK have significant room for growth, as the country accounts for just 0.6 per cent of Britain’s USD 50.68 billion annual imports, with the India-UK trade pact removing tariffs on processed foods, shrimp and instant coffee, industry body TPCI said.
India and the UK on July 15 implemented a Comprehensive Economic and Trade Agreement (CETA) to boost trade and investment ties.
To boost trade in the food processing sector, the Trade Promotion Council of India (TPCI) has inked a pact with the UK-India Business Council (UKIBC).
The agreement establishes a framework for institutional collaboration between businesses in the two countries, with a focus on facilitating trade missions, sharing market intelligence, connecting businesses and creating growth opportunities for small and medium enterprises (SMEs).
TPCI Chairman Mohit Singla said the food and beverage sector offered significant growth opportunities under the new trade framework. He added that both organisations would work to translate the momentum following the implementation of CETA into tangible trade outcomes.
As part of these efforts, TPCI and UKIBC organised the India-UK Trade Promotion Event on Food and Beverages in London on October 15. The event brought together 48 Indian exporting companies and 150 UK-based importers to explore business opportunities and strengthen trade partnerships.
PTI
