Gujarat's Deputy CM Calls for Business Community to Tap Global Markets

Gujarat Deputy CM Harsh Sanghavi urges collaboration between the state and business sectors to exploit global trade opportunities, crediting PM Modi for new openings abroad. The India-UK CETA could significantly benefit cities like Surat in the gems and textiles industry by reducing tariffs and increasing exports.

In a bid to foster economic growth, Gujarat's Deputy Chief Minister Harsh Sanghavi has appealed to the state's business sector to actively partner with the government. He emphasized the potential rewards from newly accessible international markets, primarily attributed to Prime Minister Modi’s initiatives, which promise opportunities for young entrepreneurs.

Sanghavi’s statement coincides with India’s efforts to broaden its market reach via strategic trade deals with key global players. Surat, a prominent center for the diamond, gem, and textile industries, is poised to gain substantially from the India-UK Comprehensive Economic and Trade Agreement (CETA), now effective since mid-July.

According to the Ministry of Commerce and Industry, the CETA grants zero-duty export privileges for nearly 99% of Indian products to the UK. Initial shipments have already commenced from Surat, featuring a range of goods from jewellry to fabrics. With this agreement, the government anticipates a significant rise in Surat's export profile, potentially doubling trade figures within a few years.