UK trade deal comes into effect: What’s cheaper in each country now?
GCC News
The agreement cuts tariffs on thousands of goods and widens access for services firms and professionals in both markets.
India and the United Kingdom’s Comprehensive Economic and Trade Agreement (CETA) has come into effect, cutting tariffs on thousands of goods and increasing access for service firms in both countries.
The agreement, which came into effect on Wednesday, is expected to give Indian exporters immediate duty-free access to most British tariff lines, benefitting labour-intensive sectors such as textiles.
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On the other hand, the UK will gain wider access to the Indian markets through phased tariff cuts and quotas in sectors, including automobiles.
In a post on X, India’s Commerce and Industry Minister Piyush Goyal said the agreement was a “defining milestone in India-UK ties”.
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