India-UK Trade Agreement Explained | Which comes out cheaper, who wins?

Under the agreement, the UK will remove duties on 96.8% of its tariff items immediately upon implementation, representing 97.7% of the value of trade. This means that these tariffs have dropped to zero as of July 15. File | Photo credit: Getty Images/iStockphoto

The story so far: The India-UK Comprehensive Economic and Trade Agreement (CETA) entered into force on July 15, a year after it was signed. In conjunction with this agreement, the Double Contribution Convention (DCC) also enters into force. The agreement was welcomed by both sides, with Commerce Minister Rajesh Agrawal even declaring it the “gold standard” of Indian free trade agreements.

Speaking to the media a day before the agreement entered into force, Mr. Agrawal said CETA stands out not only for its breadth but also for its depth. This means that it not only covers a wide range of tariff and non-tariff issues, but also makes deep concessions on several of these issues.

Published – 15 Jul 2026 11:34 IST