The recently signed India-UK free trade agreement, known as the Comprehensive Economic and Trade Agreement (CETA), was officially signed on July 24 and is expected to come into effect next year, marking a significant step toward boosting bilateral trade and investments.

This agreement will grant duty-free access to approximately 99% of Indian exports, including textiles, automotive components, footwear, and pharmaceuticals, thereby significantly enhancing India's export capacity.

According to FIEO President SC Ralhan, the pact aims to double bilateral trade to USD 120 billion by 2030 by reducing tariffs and easing regulatory barriers for services and investments.

Experts emphasize that the agreement will notably boost India's manufacturing and service exports, while also attracting UK investments into key growth sectors, especially benefiting MSMEs and labor-intensive industries.

In the services sector, the deal will open new opportunities for Indian IT, financial, healthcare, and professional service providers in the UK, along with facilitating the mutual recognition of qualifications and smoother movement of skilled professionals.