New Delhi [India], July 25 (ANI): Bharatiya Janata Party (BJP) MP Shashank Mani on Friday welcomed the India-UK Free Trade Agreement (FTA), which was recently signed between the two nations, saying that it would prove to be beneficial for both sides.

India will benefit from signing the Comprehensive Economic and Trade Agreement (CETA) as it would help the nation with trade expansion and promote people-to-people interaction in large economic systems.

'After many years, a free trade agreement has been reached that benefits both sides... Piyush Goyal has implemented this with great coordination. I would like to congratulate PM Modi on personally visiting Britain to conclude this trade deal... It will benefit us as trade expands, but at the same time, the agreements we've made in large economic systems will also promote people-to-people interaction. In the future, it will influence other countries as well. Additionally, it sends a strong message against the current efforts to tighten trade barriers,' Mani told ANI.

Prime Minister Narendra Modi on Thursday stated that India and the UK have ushered in a new era of economic cooperation with the signing of the FTA, along with the Double Contribution Convention, during his tete-a-tete with UK Prime Minister Keir Starmer.

During the meeting, PM Modi emphasised the agreement's potential to boost trade, investment, and skilled mobility for future generations of the two nations.

'Together, we are laying the foundation stone of a new history. We are meeting for the third time this year. I consider this very significant. The UK and India are natural partners. Today marks a historic day in our relations. This will pave a very strong path for the future generations of India and the UK. This is adding a new chapter in business and trade,' PM Modi said.

The long-awaited India-UK Free Trade Agreement was signed in the presence of both leaders. The agreement aims to boost the movement of goods and services between the two countries. PM Modi is currently on a two-day official visit to the UK.

The landmark deal unlocks export opportunities for labour-intensive sectors, including textiles, leather, footwear, gems and jewellery, marine products, and toys, generating large-scale employment and empowering artisans, women-led enterprises, and MSMEs, a release from the Ministry of Commerce and Industry stated.

According to the release, the deal will provide unprecedented market access for Indian goods, offering zero-duty access on 99 per cent of tariff lines, covering nearly 100 per cent of the trade value. (ANI)