India-UK FTA Starts July 15! Goyal Announces Zero Duty, Big PF Benefit for Indian Workers in UK - The Economic Times Video

India-UK FTA Starts July 15! Goyal announces zero duty, big PF benefit for Indian Workers in UK - The Economic Times Video

On the India-UK FTA agreement, Union Minister Piyush Goyal said, “...Only two days remain; today is the 12th. From the 15th, any goods exported from India to the United Kingdom will be welcomed there at zero import duty. This UK-India free trade deal brings new opportunities and immense possibilities for us all. Regarding our young men and women who go there to work—often for two, three, or five years, sometimes through inter-corporate transfers—previously, about 25% of their salary was effectively wasted; the local government would take it, and the worker received no benefit from it. Now, we have finalised a 'double contribution convention agreement' that will also come into effect on the 15th. Under this, for Indians going there to work in the services sector or other jobs for up to five years, the 25% of their salary that was previously taken by the local government will now be deposited into their Provident Fund accounts in India. That money will belong to them; it earns 8.25% tax-free interest and serves as a support for their old age, ensuring social security for their families. I believe it is a testament to Prime Minister Narendra Modi's able leadership that the UK-India Free Trade Agreement not only addresses merchandise and goods and boosts the services sector, but also brings a significant gift for the thousands of people working and providing services there.”

India-UK Double Contribution Convention to protect EPF savings of Indian workers: Goyal

Union Commerce and Industry Minister Piyush Goyal on Sunday said the India-UK Free Trade Agreement (FTA) will come into effect on July 15, eliminating import duty on Indian goods entering the United Kingdom and bringing social security benefits for Indian professionals working there for up to five years.

Dual social security contributions scrapped under India-UK FTA, Indian workers' savings to flow to EPF from July 15

Union Commerce Piyush Goyal said the agreement would allow eligible Indian employees working in the UK to continue contributing to Employees' Provident Fund instead of paying into the UK's social security system

India-UK CETA takes effect July 15: Silver, automobiles, liquor to see tariff cuts

New Delhi: The India-UK Comprehensive Economic and Trade Agreement (CETA) will come into force on July 15, ushering in lower import duties on several British products, including silver, premium automobiles, Scotch whisky and aerospace equipment under a phased implementation schedule. While India has made 64 per cent of its tariff lines duty-free from Day One, these cover only around 18 per cent of the UK's current exports to India. The larger co…

India-UK Double Contribution Convention to protect EPF savings of Indian workers: Piyush Goyal

MUMBAI: Union Commerce and Industry Minister Shri Piyush Goyal on Sunday said the India-UK Free Trade Agreement (FTA) will come into effect on July 15, eliminating import duty on Indian goods entering the United Kingdom and bringing social security benefits for Indian professionals working there for up to five years. “Only two days remain; today is the 12th. From the 15th, any goods exported from India to the United Kingdom will be welcomed ther…