India-UK Free Trade Agreement to Boost Tamil Nadu's Economy, Says PM Modi

Strategic Insights -

Prime Minister Narendra Modi launched several infrastructure projects worth over Rs 4,800 crore across southern Tamil Nadu, highlighting the benefits of the India-UK Free Trade Agreement (FTA) for the state's youth, MSMEs, and startups. The FTA will make 99% of Indian products sold in the UK tax-free, boosting Indian manufacturing and creating new opportunities. Modi also emphasized Tamil Nadu's rapid development under the NDA government, with the state receiving nearly three times more central taxes over the past 11 years compared to the previous UPA government.

Key Takeaways:

  • The India-UK FTA will benefit Tamil Nadu's youth, MSMEs, and startups by making 99% of Indian products sold in the UK tax-free, boosting Indian manufacturing and creating new opportunities.
  • Tamil Nadu has witnessed unprecedented development under the NDA government, with Rs 3 lakh crore devolved to the state as central taxes over the past 11 years.
  • The state has received nearly three times more central taxes under the NDA government compared to the previous UPA government.
  • Major infrastructure projects launched by PM Modi include the four-laning of the 50km SethiyathopeCholapuram stretch on NH-36, the six-laning of the 5.16km NH-138 Tuticorin Port Road, and the commissioning of North Cargo BerthIII at V OChidambaranar Port.
  • The new terminal building of Tuticorin airport will become a game changer for commerce and connectivity in the southern part of Tamil Nadu.
  • The global perception of India has shifted significantly, with the world seeing its own growth in India's growth.
  • The NDA government prioritized the coastal economy, ensuring inclusive development, and Tamil Nadu's growth is a vital component of the vision for a viksit Bharat.
  • The state has celebrated the success of its traditional strengths, including handlooms and seafood exports.

Statistics:

  • Rs 4,800 crore: Total value of infrastructure projects launched by PM Modi across southern Tamil Nadu.
  • Rs 3 lakh crore: Central taxes devolved to Tamil Nadu over the past 11 years.
  • Rs 550 crore: Value of the 765 kV transmission corridor project to evacuate power from Kudankulam Nuclear Power Plant Units 3 and 4.
  • Rs 450 crore: Value of the new airport terminal designed to handle 20 lakh passengers annually.
  • 99%: Percentage of Indian products sold in the UK that will be tax-free under the FTA.
  • 11 years: Period during which the NDA government has prioritized Tamil Nadu's progress.
  • 50km: Length of the SethiyathopeCholapuram stretch on NH-36 that will be four-laned.
  • 5.16km: Length of the NH-138 Tuticorin Port Road that will be six-laned.

Sources:

  • Times News Network, Tuticorin: India-UK Free Trade Agreement to benefit Tamil Nadu's youth, MSMEs, and startups.
  • Times News Network, Tuticorin: PM Modi launches infrastructure projects worth over Rs 4,800 crore across southern Tamil Nadu.