New trade pact a win-win for India and U.K.
The article discusses the India-U.K. Comprehensive Economic and Trade Agreement (CETA), which came into force on July 15, highlighting it as a strategic economic alignment. It aims to double bilateral trade to over $100 billion by 2030. Key benefits for India include zero-duty access for 99% of its exports to the U.K., boosting labor-intensive sectors (textiles, leather, marine products, gems & jewellery) and high-value sectors (engineering goods, chemicals). The agreement also addresses steel exports, introduces tariff-rate quotas for electric vehicles, and retains safeguards for agriculture and dairy. It opens government procurement markets, expands access for Indian services (IT, education, healthcare, financial), and includes modern provisions on digital trade, labor, gender, and intellectual property. The CETA is expected to strengthen bilateral investment flows, support India's Atmanirbhar Bharat vision, and serve as a benchmark for future trade agreements, potentially forming a foundation for trilateral economic partnerships.
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