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Ludhiana: CICU: India-UK trade pact to give fillip to city industry
CICU president Upkar Singh Ahuja described CETA as a transformative step that would strengthen exports, manufacturing, investments and employment across the state
According to the Chamber of Industrial and Commercial Undertakings (CICU), the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) from July 15 is set to unlock significant growth opportunities for Punjab’s industrial sector, with Ludhiana expected to emerge as one of the biggest beneficiaries of the landmark trade pact.
CICU president Upkar Singh Ahuja described CETA as a transformative step that would strengthen exports, manufacturing, investments and employment across the state. He said “Nearly 99 per cent of Indian exports would now enjoy duty-free access to the UK market, while tariffs on a large number of textile and engineering products had been eliminated, enhancing the competitiveness of Indian manufacturers.”
Ahuja said “Ludhiana’s key sectors, including hosiery, garments, woollen yarn, bicycle parts, auto components, fasteners, hand tools, steel products and agricultural machinery, stand to gain substantially from improved market access.”
He highlighted that the first consignments of ready-made garments and woollen yarn were flagged off from Sahnewal on the very first day of the agreement’s implementation, reflecting its immediate impact.
He added that Punjab’s textile and engineering industries could witness a surge in export orders, while Micro, Small, and Medium Enterprises (MSMEs) would get greater opportunities to integrate into global supply chains. Increased exports are also expected to generate employment and encourage investments in technology, quality enhancement and product innovation.
CICU senior vice-president JS Bhogal said manufacturers must focus on international quality standards and technological upgradation to fully leverage the opportunities created by the agreement.
He expressed confidence that the trade pact would strengthen Punjab’s export competitiveness and help position Ludhiana as a preferred global manufacturing hub.
