Indian Commerce Minister Piyush Goyal, during a three-day UK visit, urged business leaders to focus on transformational growth for the India-UK Free Trade Agreement and reviewed preparedness for the Comprehensive Economic and Trade Agreement (CETA), effective July 15.
India and the UK will implement their Comprehensive Economic and Trade Agreement (CETA) from July 15, aiming to expand market access, reduce tariffs, and deepen cooperation. The pact is expected to open a market worth over $500 billion for Indian exporters and includes provisions for the automotive and spirits sectors.
The UK's decision to tighten steel safeguard measures, reducing tariff-free quotas and imposing higher duties from July 1, 2026, has raised concerns for Indian exporters and experts. This move, ahead of the India-UK FTA implementation, could dilute expected gains, particularly for steel and engineering exports, and is seen as a test for future trade deals.
