India has significant potential to expand its processed food exports to the United Kingdom following the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA), according to the Trade Promotion Council of India (TPCI). India currently accounts for Rs. 2,941.80 crore (US$ 309.50 million), or 0.60%, of the UK’s annual processed food imports worth Rs. 4.82 lakh crore (US$ 50.71 billion), highlighting substantial opportunities for Indian exporters. Implemented on July 15, the trade agreement has eliminated UK tariffs of up to 70% on processed food products, duties of 4.20-8.50% on shrimp and tariffs on instant coffee, improving market access for Indian producers.
To strengthen cooperation in food processing, TPCI signed a memorandum of understanding (MoU) with the UK-India Business Council (UKIBC). The agreement provides a framework for trade missions, market intelligence sharing, business connections and growth opportunities for small and medium enterprises (SMEs). As part of these efforts, both organisations held the India-UK Trade Promotion Event on Food and Beverages in London on October 15, bringing together 48 Indian exporting companies and 150 UK-based importers to explore business opportunities and strengthen trade partnerships. TPCI Chairman Mr. Mohit Singla highlighted the growth potential of the food and beverage sector under the trade agreement and the importance of translating the momentum into tangible trade outcomes.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.