India-UK FTA: Transforming Trade Across Sectors
India's new free trade agreement with the UK, the CETA, introduces tariff concessions on numerous British goods such as pastries and cosmetics. Sensitive sectors are excluded to protect domestic industry. The deal requires British Parliament approval and is set to reduce tariffs on 90% of UK-originating goods.
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- India
India has granted tariff concessions on British goods such as pastries and cosmetics under the new free trade agreement. Sensitive sectors, however, remain excluded to protect domestic interests.
The comprehensive economic and trade agreement, CETA, signed in July, facilitates duty-free access to UK products, including cakes and detergents. Concessions are phased to allow Indian industries to adapt to increased competition.
Analysts project that nearly 90% of UK-originating goods will see reduced tariffs, enhancing trade relations though the agreement awaits British Parliament approval.
(With inputs from agencies.)
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