New Delhi [India]: The landmark India–United Kingdom Comprehensive Economic and Trade Agreement (CETA) came into effect on Thursday, marking a major milestone in bilateral economic relations and paving the way for increased trade, investment and market access between the two countries.
Welcoming the implementation of the agreement, Union Commerce and Industry Minister Piyush Goyal said the trade pact strengthens India's global economic position and creates new opportunities for Indian businesses, exporters and the workforce.
The agreement is expected to significantly benefit Indian exporters by providing zero-duty access to the UK market for a wide range of products, including textiles, footwear, gems and jewellery, engineering goods, and processed food.
The move is expected to enhance the competitiveness of Indian products and boost exports to the UK.
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For Indian consumers, the agreement is set to gradually lower tariffs on several premium products imported from the UK.
One of the key highlights is the phased reduction in customs duties on Scotch whisky, making premium British spirits more affordable over time.
Similarly, import duties on UK-manufactured automobiles will be reduced in phases, with tariffs on fully built vehicles expected to decline from 110% to 10% over a specified period under agreed quotas and conditions.
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The agreement is also expected to make a range of British beauty and personal care products more accessible to Indian consumers through lower import duties.
Beyond trade in goods, the pact aims to deepen cooperation in services, investment and innovation, while strengthening economic ties between India and the UK.
The implementation of the India–UK CETA is expected to boost bilateral trade, encourage investment flows and create new employment opportunities, reinforcing the strategic economic partnership between the two countries.
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