Panaji, Goa | July 25, 2025 — The Goa Chamber of Commerce and Industry (GCCI), under the leadership of President Ms. Pratima Dhond, has welcomed the recently concluded India-UK Free Trade Agreement (FTA). This landmark economic pact, signed during Prime Minister Narendra Modi’s visit to London, is projected to double bilateral trade from USD 60 billion to USD 120 billion by 2030.
According to GCCI, the agreement is expected to deliver significant economic benefits for Goa, across key sectors such as:
🔑 Key Benefits for Goa:
- 🏖 Tourism: The FTA will likely enhance inbound tourism from the UK, Goa’s largest international tourist market. With easier travel protocols and business synergy, the state’s hospitality sector is poised to grow.
- 🥃 Feni Exports: Goa’s heritage spirit feni gains Geographical Indication (GI) protection in the UK under the agreement. It opens new doors for premium positioning in UK’s hospitality and retail chains, as Indian craft spirits gain popularity abroad.
- 🐟 Marine Exports: The duty-free access for seafood and marine products will bolster Goa’s blue economy, benefitting coastal communities and exporters.
- 🧵 Textiles and Footwear: Local manufacturers will benefit from zero tariffs, making Goan products more competitive in UK markets.
- 💻 IT & Professional Services: Indian professionals, including those from Goa, will enjoy relaxed visa norms and social security exemptions, encouraging global mobility of talent and cross-border collaboration.
PHARMA SECTOR
The India-UK Free Trade Agreement (FTA) is also expected to significantly benefit Goa’s pharmaceutical sector, along with other industries.
- Zero-duty access: The FTA provides zero-duty access to the UK market for nearly 99% of Indian exports, including pharmaceuticals. This move is expected to increase India’s pharma exports to the UK, which currently stands at under $1 billion, despite the UK importing nearly $30 billion worth of pharma products.
- Growth opportunities: The agreement is anticipated to unlock major export opportunities for India’s pharmaceutical sector, with the potential to increase exports by a substantial margin. India’s pharma industry sees the UK as a strategic market, and the FTA is expected to boost confidence among investors and global partners.
- Competitive advantage: With the elimination of tariffs on generic drugs and medical devices, Indian pharma companies can capitalize on the UK’s $30 billion annual pharma imports. This move will make Indian products more competitive in the UK market, potentially leading to increased market share.
- CDMO and bulk drug benefits: The FTA is also expected to benefit Contract Development and Manufacturing Organization (CDMO) services and bulk drug exports. This development will provide significant relief to generic drug makers, who typically operate on thin profit margins.
“We are delighted to see the India-UK FTA take shape. This agreement is a testament to the strong bilateral ties between our two nations and will undoubtedly benefit our state in numerous ways,”
said Ms. Pratima Dhond, President, GCCI.The GCCI has expressed its commitment to working with government agencies and local businesses to ensure that Goa makes the most of this opportunity. The chamber also sees the FTA as a model for how regional economies like Goa can integrate into global supply chains and take full advantage of international collaborations.
As India strengthens its trade relations globally, this FTA positions Goa to rise as a hub for sustainable tourism, quality manufacturing, heritage exports, and talent mobility.
The GCCI urges entrepreneurs and exporters in the state to actively explore the new channels that will emerge under the India-UK FTA.
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