India-UK FTA to propel Maharashtra as a global growth engine, says CM Fadnavis

Mumbai, July 15 (AHN) Maharashtra Chief Minister Devendra Fadnavis said on Wednesday that implementation of the landmark India-United Kingdom (UK) Free Trade Agreement (FTA) is set to unlock unprecedented global trade, investment, and export opportunities for the state.

Speaking at the launch ceremony of the trade pact's implementation in Mumbai, Chief Minister Fadnavis added that a progressive India relies on a progressive Maharashtra.

He expressed firm confidence that Maharashtra's march toward becoming a $1 trillion economy will play a defining role in India's journey to becoming a developed nation.

The bilateral trade between India and the UK currently stands at $56 billion, with a strategic target to double this figure by 2030.

"The agreement will slash or eliminate tariffs on 99 per cent of Indian exports to the UK and 90 per cent of UK imports entering India. Industrial and agricultural hubs like Pune, Nashik, Kolhapur, and Chhatrapati Sambhajinagar will gain direct access to premium global markets," the Chief Minister said.

He emphasised that trade agreements must be viewed through the lens of comprehensive economic transformation rather than just tariff cuts.

"Every tariff reduction is an opportunity for an MSME to become a global exporter, for a farmer to get better prices, for an engineer to build products for the global market, and for a young entrepreneur to scale a world-class enterprise," he added.

Highlighting the state's economic dominance, the Chief Minister noted that Maharashtra attracts 39 per cent of India's total Foreign Direct Investment (FDI).

"Mega infrastructure projects like the Atal Setu, Samruddhi Expressway, Navi Mumbai International Airport, Vadhavan Port, 'Third Mumbai', alongside planned International Edu-Cities and Medi-Cities, are actively elevating the state's global competitiveness," he said.

He assured businesses that the state government is fully committed to simplifying export procedures and maintaining a highly industry-friendly environment.

State Protocol and Marketing Minister Jaykumar Rawal noted that the marketing department, in coordination with other state bodies, will run awareness and guidance programmes to help local farmers and MSMEs leverage the benefits of this deal.

Highlighting the UK's perspective, British Deputy High Commissioner Harjinder Kang praised Maharashtra's role as India's industrial powerhouse.

He remarked that beyond trade, the agreement cements strategic cooperation in education, climate action, defence, and technology under the 'UK-India Vision 2035' framework.

To mark the historic transition, dignitaries at the event unveiled symbolic cargo boxes representing the seamless flow of goods between India and the UK.