ENA State 2025-07-28 14:37:25 <p><span style="font-size:14px"><strong>Panaji, Jul 28 (KNN)</strong> The Goa Chamber of Commerce and Industry (GCCI) announced Saturday that the recently signed India-UK free trade agreement will deliver substantial benefits to the state's pharmaceutical companies, tourism sector, and feni producers.</span></p> <p><span style="font-size:14px">GCCI President Pratima Dhond stated that the bilateral trade agreement is positioned to provide essential economic stimulus to Goa's key industries.</span></p> <p><span style="font-size:14px">Under the terms of the free trade agreement, nearly 99 percent of Indian exports, including pharmaceuticals, will receive zero-duty access to the UK market.</span></p> <p><span style="font-size:14px">This development presents significant opportunities for India's pharmaceutical sector, which currently exports less than USD 1 billion worth of medicines to the UK despite the British market importing approximately USD 30 billion in medicines and medical devices annually.</span></p> <p><span style="font-size:14px">Goa, which ranks sixth nationally in pharmaceutical exports with a 5.6 percent market share, is expected to capitalise on these expanded market access provisions.</span></p> <p><span style="font-size:14px">The agreement is anticipated to generate increased bilateral travel and investment flows between India and the UK, creating favourable conditions for Goa's tourism industry.</span></p> <p><span style="font-size:14px">Enhanced connectivity and business relationships between the two nations could translate into higher visitor numbers and expanded tourism-related economic activity in the coastal state.</span></p> <p><span style="font-size:14px">Goa's feni industry stands to gain particular recognition in the British market through geographical indication protection measures included in the agreement.</span></p> <p><span style="font-size:14px">This designation will create new export pathways for the traditional Goan spirit and aligns with the Indian government's broader initiative to promote domestic alcoholic beverages in international markets.</span></p> <p><span style="font-size:14px">Additional sectors positioned to benefit from the trade agreement include marine products, textiles, and information technology services.</span></p> <p><span style="font-size:14px">The UK currently imports marine products worth USD 5.4 billion annually, including prawns, tuna, mackerel, sardines, squid, crab, and pomfret.</span></p> <p><span style="font-size:14px">India's present 2.3 percent share of UK marine imports is projected to double following implementation of the free trade agreement, potentially creating export-driven employment opportunities across India's coastal states.</span></p> <p><span style="font-size:14px">The agreement also includes provisions for Indian professionals, including those from Goa, to access the UK market through streamlined visa procedures and exemptions from UK social security contributions.</span></p> <p><span style="font-size:14px">These measures are designed to facilitate greater movement of skilled workers and enhance bilateral professional exchanges between the two countries.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42966 https://knnindia.co.in/news/newsdetails/state/india-uk-fta-expected-to-boost-goas-pharmaceutical-tourism-and-feni-industries-gcci 2025-07-28 14:37:25 knnindia.co.in