Bhubaneswar, July 15: Odisha's coastal production and processing clusters are set to gain as the India-UK Comprehensive Economic and Trade Agreement or CETA comes into effect from Wednesday. The landmark trade deal is set to deliver several benefits to Odia exporters and consumers in terms of greater access to UK markets and imported goods at cheaper costs respectively.

With its implementation, coastal production and processing clusters in Odisha, Andhra Pradesh, Gujarat, Keralam, Tamil Nadu and West Bengal will be benefitted significantly.

Export-led job creation and increased economic activity will also benefit women entrepreneurs, youth, startups and MSMEs as they receive improved access to global value chains.

Similarly, ease of doing business through self-certification, business friendly Rules of Origin, and robust mechanism will also address non-tariff measures due to the trade deal.

CETA will provide duty-free market access for almost 99% of Indian exports.

Prime Minister Narendra Modi today, shared an article written by Union Minister, Piyush Goyal on the India–United Kingdom Comprehensive Economic and Trade Agreement (CETA) and the agreement on Social Security, describing it as a significant milestone in the India–UK partnership.

Modi said that the two agreements would further deepen the economic linkages between India and the United Kingdom and translate the shared ambition of both countries into tangible opportunities for their people.

The PM noted that the CETA would provide fresh momentum to India's farmers, entrepreneurs and MSMEs by expanding access to the UK market across several vibrant sectors. He added that the agreement on Social Security would provide invaluable support to Indian professionals working temporarily in the United Kingdom and enhance the competitiveness of Indian enterprises.