Telangana Eyes Bigger UK Export Push After CETA, Says Sridhar Babu
He said the agreement, which came into effect on Wednesday, has removed tariffs on 99 per cent of industrial products exported from India to the UK.
Hyderabad:Telangana is preparing to tap the India-UK Comprehensive Economic and Trade Agreement (CETA) to expand exports and attract fresh investments, IT and Industries Minister D Sridhar Babu said on Thursday. He said the agreement, which came into effect on Wednesday, has removed tariffs on 99 per cent of industrial products exported from India to the UK.
The minister made the remarks after meeting a UK delegation led by Deputy Trade Commissioner (South Asia) Chandru K Iyer at the Secretariat. Telangana MLC and PCC president Mahesh Kumar Goud also attended the meeting. Sridhar Babu said bilateral trade has the potential to touch Rs 3.25 lakh crore, and Telangana wants to secure a larger share of that opportunity.
He pointed out that the state’s exports to the UK currently stand at only Rs 3,553 crore. Telangana, he said, has strong strengths in pharmaceuticals, vaccines, aviation components, life sciences, semiconductors, electronics and IT. He asked officials to brief local industries on CETA benefits and urged the UK delegation to include Hyderabad in the itinerary of visiting mayors.