Bhubaneswar: The recently signed Free Trade Agreement (FTA) between India and the United Kingdom has opened new avenues for Odisha’s coastal economy, particularly in the seafood and handicraft sectors.
With the removal of duties on 99 per cent of Indian goods under the comprehensive agreement, Odisha is poised to benefit significantly. Officials stated that seafood exports from key ports like Paradip and Balasore are expected to surge, especially in prawn exports, which previously faced tariffs ranging from 4.2 per cent to 8.5 per cent. In 2024-25, India exported seafood worth $104.43 million to the UK, with prawns alone accounting for 77 per cent of the total.
The duty-free access granted under the FTA is expected to not only double India’s maritime exports but also enhance incomes for Odisha’s fishermen and aquaculture farmers. Employment opportunities, especially for women engaged in seafood processing, are likely to increase as export volumes grow, according to a PIB release. In addition to seafood, Odisha’s traditional handicrafts and handlooms are also expected to see a significant boost in exports.
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The UK had earlier imposed a 16 per cent duty on GI-certified handicraft products, but the FTA has completely removed this tariff, providing a competitive edge to Odisha’s artisan community. With a special demand for Odisha’s handlooms and crafts in the international market, the agreement is anticipated to open up new export channels, increase profitability, and generate employment, particularly in rural areas. Experts believe that the state’s rich heritage products, including items such as Sambalpuri sarees and Pattachitra paintings, can now access the UK market more freely and at better prices.
