PANAJI
The Goa Chamber of Commerce and Industry (GCCI) has hailed the recently signed India-UK Free Trade Agreement (FTA) as a significant step forward for Goa’s economic growth.
Calling it a “game-changer”, GCCI President Pratima Dhond said the agreement opens up new avenues for trade, investment, and employment that will directly benefit the State.
“The India-UK FTA is a milestone that reflects the strengthening of bilateral economic ties and brings immense opportunities for Goa. From traditional sectors like feni and fisheries to emerging industries such as IT and services, this agreement is poised to boost our economy across the board,” Dhond said.
The GCCI outlined several key sectors in Goa that stand to benefit from the FTA:
Tourism: With relaxed travel regulations and increased tourism exchanges, Goa’s hospitality and tourism sector is expected to receive a strong boost from the inflow of UK visitors.
Feni exports: Goa’s signature spirit, feni, now enjoys Geographical Indication (GI) protection in the UK, paving the way for greater visibility and premium shelf space in upscale retail and hospitality outlets.
Marine products: Duty-free access for Indian marine exports to the UK will benefit Goa’s fishing and seafood processing sectors, contributing to the state’s “blue economy” and creating local employment.
Textiles and footwear: Goan entrepreneurs in the textile and footwear sectors will gain duty-free access to UK markets, making their products more competitive and expanding export potential.
IT and professional services: The FTA also eases entry for Indian professionals into the UK by simplifying visa rules and eliminating social security contributions for short-term assignments. This will benefit Goa’s growing pool of tech and service sector talent.
“The FTA is not just about tariff reductions -- it’s about building long-term partnerships. It will empower local businesses, create jobs, and drive innovation”, Dhond added.
The GCCI said it will continue to work closely with government agencies and industry stakeholders to ensure that Goa’s businesses fully leverage the benefits of this landmark agreement.
“This is an opportunity to reshape Goa’s economic future,” Dhond emphasised. “With the right support and strategy, we can position our state as a strong player in the global trade landscape”, she said.
