The landmark India-UK Comprehensive Economic and Trade Agreement (CETA) will officially come into force on July 15. Union Commerce and Industry Minister Piyush Goyal announced that this major trade pact will help Indian farmers, fishermen, artisans, and small businesses expand their presence in international markets while accelerating new job creation. Writing for an English daily newspaper, the Minister explained that the historic agreement will open up massive market access for Indian goods in the United Kingdom across multiple sectors.
A central feature of this trade deal is the immediate elimination of tariffs on about 99% of tariff lines. This step will significantly lower export costs, making Indian products highly competitive and creating additional export opportunities. Additionally, the agreement ensures a gradual opening of India’s domestic market, setting CETA as a new benchmark for fair and balanced trade deals between major global economies.
You Might Also Like- UK-India Free Trade Agreement to Enter into Force on 15 July
Another key highlight of the pact is the Agreement on Social Security, also known as the Double Contribution Convention (DCC). Under this new rule, Indian professionals will be completely exempt from making dual social security contributions in the UK during their temporary work assignments. Minister Goyal noted that this financial protection is expected to directly benefit more than 75,000 Indian professionals and over 900 companies. Ultimately, this agreement aims to boost global business, protect working talent, and secure a highly profitable partnership for both nations.
