The Goa Chamber of Commerce and Industry (GCCI) has welcomed the India-UK Free Trade Agreement (FTA), highlighting its significant benefits for Goa’s key industries including pharmaceuticals, tourism, and traditional feni production. The trade pact, recently signed by both countries, promises to open up major export opportunities by offering zero-duty access for nearly 99% of Indian exports to the UK.
GCCI President Pratima Dhond emphasised that Goa’s robust pharmaceutical sector stands to gain substantially. Currently, while the UK imports about USD 30 billion in pharmaceuticals and medical devices annually, Indian exports to the UK in this sector are under USD 1 billion. Goa, which holds a 5.6% share in India’s pharma exports, could see a surge as a result of the FTA.
The agreement is also expected to encourage tourism between India and the UK, giving a potential boost to Goa’s already popular travel industry. Increased air connectivity, easier visa processing, and mutual promotional efforts could bring more UK tourists to the coastal state.
Additionally, the FTA brings geographic indication (GI) protection to Goa’s local liquor, feni, making it eligible for export and recognition in the UK market. This is seen as a win for traditional producers and part of India’s broader strategy to promote indigenous spirits globally.
Lastly, other sectors like marine exports, textiles, and IT services in Goa may benefit from duty-free access and simplified procedures. Dhond added that Indian professionals, including Goans, will benefit from relaxed UK visa rules and social security exemptions, improving mobility and employment opportunities abroad.
