Latest Updates on India UK Free Trade deal

Industry sees no immediate disruption in premium segment

India has notified the procedure for importers to seek government approval to avail quota-based duty concessions on imports of passenger cars and goods vehicles under the free trade agreement with the UK, which will come into force on July 15. Under the Comprehensive Economic and Trade Agreement (CETA), India will reduce import duties on automotive imports from about 110 per cent to 10 per cent, with quotas on both sides. India is allowing import of 3.78 lakh units of conventional-engine passenger cars, including those in the mass segment, from the UK at concessional customs duty during the first 15 years of the implementation of the trade pact between the two countries. "Procedure for allocation of Tariff Rate Quotas (TRQ) under India-UK (CETA) is notified," the Directorate General of Foreign Trade (DGFT) has said in a public notice dated July 9. It said that at the time of clearance of the import consignment, the importer in India has to produce a Certificate of Origin issued by

There is already "euphoria" within industry over the possibilities opened up by the India-UK free trade agreement, and economic growth for both countries is an inevitable outcome of the pact coming into force this month, according to an industry expert. The UK-India bilateral Comprehensive Economic and Trade Agreement (CETA) was signed last year and will enter into force on July 15. Kishore Jayaraman, Group CEO of the UK India Business Council (UKIBC), said he remains "very bullish" about India and the UK being a "formative force into the future" as a result of the pact. "India offers capacity and capability, so scalability for businesses that want to scale up in the Indian market just gets that much easier," Jayaraman told PTI in an interview. "I think this is a celebration for SMEs, startups, and for creative people to scale themselves through the capacities and capabilities that India offers and go to the next level of their businesses," the industry leader said. "They should b

The finance ministry has notified rules for determining the origin of goods under the India-UK trade pact, clearing the way for the agreement's implementation from July 15

The series of free trade agreements (FTAs) finalised by India, including the ones with the UK and the European Union, will give a major boost to toy exports, according to industry officials. Under the free trade agreements with the EU and UK, Indian toys will get zero duty access, Toy Association of India Chairman Manu Giota said. At present, the products face about 5-6 per cent import duty in these two markets. "These FTAs will catapult us into the major league, he said, adding that these markets account for about 16 per cent of the country's total toy exports, which stood at USD 0.35 billion in 2024. India signed a trade pact with the UK last year, and it will come into force from July 15. The agreement with the 27-nation EU is likely to be signed by December this year and may be implemented next year. Gupta, who is also the CEO of Playgro Toys India, said that huge investments are coming into the sector due to the business-friendly policies of the Narendra Modi-led ...

Transformational growth should be the prime focus of the India-UK Free Trade Agreement (FTA), Commerce and Industry Minister Piyush Goyal told business leaders at a plenary session in London on Friday. The minister is in the UK on a three-day visit to review the preparedness of both countries for the implementation of the Comprehensive Economic and Trade Agreement (CETA), which comes into force on July 15. During an interactive event organised by the High Commission of India in London, Goyal heard from members of a Federation of Indian Commerce and Industry-led delegation on the sector-wide opportunities on offer from CETA, such as advanced manufacturing, consumer goods, renewable energy, healthcare and tourism. "Collaborations, cooperations, partnerships will be, in my humble opinion, the right way to come in quickly for both British businesses and Indian businesses," Goyal told the gathering. "It will wedge your way faster; not compulsory, of course, your choice. If you are ...

The Free Trade Agreement (FTA) with the UK is the most comprehensive agreement that India has entered into so far and "sky is the limit" in terms of the economic benefits that will flow from it, Commerce and Industry Minister Piyush Goyal said here Thursday. The minister arrived in the UK on a three-day visit to review the preparedness of both countries for the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA), which will enter into force from July 15. Addressing the India Global Forum (IGF) UK-India Week at the start of his tour, the minister exhorted businesses in both countries to "seize the moment" and set ambitious targets to boost the estimated 48-billion-pound annual bilateral trading partnership on the back of CETA. "The UK free trade agreement will be the first most comprehensive agreement that India has entered into so far," said Goyal. "It's a partnership between two complementary economies, two growing economies. We understand each other,

JLR says local manufacturing plans remain unchanged as India opens its premium vehicle market to British imports while protecting lower-cost EV segments

Here are the key takeaways from the India-UK trade deal, from lower tariffs on cars and Scotch whisky to duty-free textile access, social security relief for professionals and steel export safeguards

India will allow the import of 3.78 lakh units of conventional-engine passenger cars, including those in the mass segment, from the UK at concessional customs duty during the first 15 years of the implementation of the trade pact between the two countries. Under the pact, tariffs on automotive imports will fall from about 110 per cent to 10 per cent, with quotas on both sides. According to the India-UK CETA document, released on Wednesday, India will get access to the UK's electric, hybrid/hydrogen passenger cars segment with duty-free exports to that country from the sixth year in the price segment ranging from GBP 20,000 to GBP 80,000, with the total quota reaching a peak of 88,000 units from the 15th year and continuing in the subsequent years. This will benefit Indian manufacturers such as Tata Motors Passenger Vehicles, Mahindra & Mahindra, and Maruti Suzuki, among others. The two countries announced the implementation of the comprehensive trade and economic partnership ...

Textile stocks in focus: The British High commissioner cleared the India-UK Free Trade Agreement, and will come into force from July 15, 2026, say reports.

Alongside the trade pact, the Double Contribution Convention will also take effect, easing social security obligations for temporary cross-border workers

Goyal said the discussions focused on expanding partnerships that could drive economic growth and create mutual benefits for both countries

Commerce Secretary Rajesh Agrawal said in a post on X that they took stock of progress and worked though the sticking points

House of Lords member Sonny Leong says the UK remains committed to the India FTA and that steel imports are currently well below proposed quota thresholds

Trade agreements with the US and the UK could help cushion some of the headwinds while attracting foreign investment at a time when the rupee is under great pressure

High tariffs and complex compliance requirements continue to deter free-trade agreement utilisation

The embattled Labour government of Keir Starmer needs to show that it is willing to defend British jobs and industries

UK steel import curbs have emerged as a key hurdle delaying the operationalisation of the India-UK free trade agreement, officials said

JLR India on Tuesday announced slashing of prices of its Range Rover completely built unit models imported from the UK by up to Rs 75 lakh in anticipation of the India-UK FTA. The key models benefitting from the FTA are Range Rover SV and Range Rover Sport SV, JLR India said in a statement. Under the new pricing, "the Range Rover SV has been repriced from Rs 4.25 crore to Rs 3.5 crore (starting price ex-showroom)", it added. Also, the price of Range Rover Sport SV has been reduced to Rs 2.35 crore from Rs 2.75 crore, significantly strengthening its market positioning, the company added. "The revised prices reflect the new duty structure enabled by the FTA and will be effective immediately," it said. Commenting on the development, JLR India Managing Director, Rajan Amba said,"In anticipation of the India-UK FTA being implemented, we are pleased to extend its benefits to our clients. The updated pricing of Range Rover SV and Range Rover Sport SV underscores our customer-first approa