New Delhi [India], July 25 : A day after India and the UK signed a historic free trade agreement (FTA), Union Minister Shivraj Singh Chouhan on Friday said that it will be a "boon" for Indian agriculture and farmers.
He also extended greetings to Prime Minister Narendra Modi. I extend my greetings to PM Modi because of the comprehensive economic and trade agreement between India and the UK. It will be a boon for Indian agriculture and farmers"
The senior BJP leader noted that India is a surplus nation that exports agricultural products worth Rs 8500 crores to the UK, and agricultural products worth Rs 3200 crores are imported from the UK. "When exports are higher, it means we are in a beneficial position..."
"In this agreement, no leniency has been given to the products whose import could have posed a negative impact on our farmers. No concessions have been provided on the export of products such as wheat, rice, and maize, which are produced in massive quantities in India...," he noted.
"This agreement is incredible, unprecedented and historic...", he remarked.
The much-awaited landmark India-UK Free Trade Agreement was signed on Thursday, in the presence of Prime Ministers Narendra Modi and his British counterpart Keir Starmer, as PM Modi was on a two-day visit to the UK.
On May 6, Prime Minister Modi and PM Starmer had announced the successful conclusion of a mutually beneficial India-UK Free Trade Agreement (FTA). This forward-looking Agreement is aligned with India's vision of Viksit Bharat 2047 and complements the growth aspirations of both countries.
Both nations desire to increase their trade to USD 120 billion by 2030.
On Thursday, the UK government said that India's average tariff on UK products will drop from 15 per cent to 3 per cent under India-UK FTA.