Foreign Secretary Vikram Misri on Thursday (local time) said that the announcement of the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) was among the key outcomes of Prime Minsiter Narendra Modi's engagements on the sidelines of the G7 Summit in Evian, with the pact set to come into force on July 15.
Addressing a special briefing on the Prime Minister's visit to Paris, France, Misri highlighted trade as a major theme running through several of PM Modi's bilateral meetings.
"The trade aspect of this could be seen at Evian as a matter of fact, in the multiple bilateral meetings that the Prime Minister had. And if I can cite just four of those meetings and the progress that was registered as well as reinforced at each one of these meetings," Misri said.
Referring to India-UK ties, he noted that Prime Minister Modi and UK Prime Minister Keir Starmer announced the date for the entry into force of the landmark trade pact signed last year in July.
"With the UK, as you are aware, both the Prime Minister and the Prime Minister of the United Kingdom announced the date for the entry into force of the India-UK Comprehensive Economic and Trade Agreement, which was signed last year in the presence of the two Prime Ministers in the UK and will enter into force from July 15," Misri said.
Highlighting the development as a significant step forward in relations with one of India's major economic partners, he added, "So major, major development in so far as bilateral relations with a major trading partner are concerned."
The landmark India-UK Comprehensive Economic and Trade Agreement (CETA) will come into force from July 15, 2026, with the government working to ensure that customs notifications and related processes are put in place so that exporters can start availing concessions from day one, senior government sources told ANI.
"Government is working towards getting customs notifications and processes in place. The effort will be to see that exporters are able to sell their consignments on July 15 itself, availing concessions," sources said.
Describing the pact as a landmark achievement, government sources said, "India-UK CETA is the most aspirational agreement so far," adding that it opens up a market worth over USD 500 billion for Indian businesses.
"India will have decent market access. More than USD 500 billion worth of market opens up for India. India-UK CETA opens up large economic opportunities on both sides," sources said.
The agreement is expected to provide an additional tariff advantage of 7-10 per cent to Indian exporters, bringing India at par with several other countries that already enjoy zero-duty access to the UK market. Sources said over 99 per cent of India's tariff lines and 99 per cent of India's trade would come down to zero duty under the pact.
India currently enjoys a trade surplus with the UK in both merchandise and services. India's services exports to the UK stood at USD 21.6 billion in 2024, while UK services exports to India were valued at USD 13.7 billion. Merchandise exports from India to the UK stood at USD 13.7 billion in 2025, compared with imports of USD 9.47 billion. (ANI)
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