India and the United Kingdom on Thursday signed a landmark Comprehensive Economic and Trade Agreement (CETA), aimed at enhancing access to goods and services between the two countries.
The agreement, signed in the presence of Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, is poised to offer wide-ranging benefits for Indian businesses, enabling them to expand their global footprint and deepen their presence in the UK market.
Beyond lower tariffs and broader market access for Indian goods and services, the agreement promotes ease of doing business with the UK through simplified and streamlined customs and trade facilitation processes. This includes established systems like a Single Window and the Authorised Economic Operator framework.
Moreover, the provision of non-discriminatory treatment for Indian businesses and exporters across goods, services, and government procurement will strengthen their competitive position within the UK market.
The CETA serves as a strategic catalyst for Indian enterprises operating within the UK, facilitating the optimal deployment of skilled personnel to deliver competitively benchmarked services aligned with UK market expectations.
Prominent service sector entities, particularly in information technology with an established presence in the UK, stand to benefit from enhanced regulatory certainty regarding visa provisions for the assignment of Indian professionals. This framework is expected to strengthen bilateral economic ties and support the sustained growth of India’s services exports to the UK.
Businesses will also benefit from the cooperative efforts enshrined in various chapters of the CETA, like the Innovation Working Group and cooperation on digital identities and trade, that will help promote connectivity, digital trade growth, collaboration on best practice principles and innovative opportunities; and responsible business conduction and corporate responsibility practices.