India-UK Free Trade Agreement Takes Effect, Slashing Tariffs on Most Goods

The comprehensive trade deal between the world's fifth and sixth largest economies came into force on Wednesday.

• The agreement removes or reduces tariffs on 99% of Indian exports to the UK and 90% of UK imports to India.
• The British government called the pact the UK's most economically significant bilateral trade deal since leaving the European Union.
• Welspun Living CEO Dipali Goenka said Indian exports to the UK are expected to grow in double digits.
• Import duties on Scotch whisky fell from 150% to 75% immediately, with a gradual reduction to 40% over ten years.

Latest developments

• Jul 15 — India-UK CETA has granted Indian exporters immediate duty-free access to most British tariff lines, benefiting sectors such as textiles.
• Jul 15 — The UK has received phased tariff cuts and quotas in Indian markets including automobiles.
• Jul 15 — The agreement has widened market access for services firms and professionals in both countries.