UK-India free trade agreement comes into force, boosting bilateral trade

Trade Commissioner for South Asia Harjinder Kang (third left) and others attend an event on the India-UK FTA on Wednesday. PIC/PTI

The UK-India free trade (FTA) agreement came into force on Wednesday and it is a "new gold standard" of trade deals and it sends a message to the rest of the world that rules-based order works, British High Commissioner Lindy Cameron said.

The mega trade deal, officially known as the Comprehensive Economic and Trade Agreement (CETA), secures zero-duty market access for nearly 99 per cent of India's exports.

The CETA will give fresh momentum to Indian farmers, entrepreneurs and MSMEs and is expected to help the Indian economy in sectors like textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods.

"With the coming into force of the CETA and the Agreement on Social Security, our economic linkages are going to get even deeper," Commerce and Industry Minister Piyush Goyal said.

Prime Minister Narendra Modi termed the operationalisation of CETA a significant moment in the bilateral ties.

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