The impact of the Comprehensive Economic and Trade Agreement (CETA) implemented between India and Britain (UK) was visible on the very first day. On the first day of implementation of the agreement, India exported goods worth more than $ 140 million (about Rs 1,300 crore) to Britain. This great start has given new hope to Indian businessmen and exporters. The government believes that this agreement will take the trade of both the countries to new heights in the coming years.
Commerce Secretary Rajesh Aggarwal said that India and Britain to achieve bilateral trade worth 100 billion dollars by 2030 The target has been set. The total trade in goods between the two countries in the financial year 2025-26 stood at $25.12 billion, of which India’s trade surplus was $1.76 billion. The strong response received on the very first day is being considered a good sign towards achieving this target.
Indian exporters will get the biggest benefit
Under this trade deal, import duty in Britain has been abolished on 99.5 percent of India’s export value and 98.8 percent of tariff lines. This is expected to provide huge benefits to sectors like textile, readymade garments, leather, footwear, gems and jewellery, marine products, processed food, engineering goods, auto parts and chemicals. The special thing is that a large number of MSMEs work in these sectors, which will also create new employment opportunities.
PM Modi said historic step
Prime Minister Narendra Modi described this agreement as historic for India-UK relations. He said that this trade deal will give new strength to farmers, entrepreneurs and MSME sector. Besides, cooperation between the two countries will also increase in the field of technology, professional services and innovation. Apart from this, the Social Security Agreement will also provide relief to Indian professionals working in Britain.
Industry expressed happiness
Industry organizations say that this agreement is not limited to increasing trade only, but will make Indian products more competitive in the global market. This will provide huge benefits to India’s labour-intensive industries and will accelerate exports. At the same time, the gradual reduction in import duty on some British products like Scotch whiskey will further strengthen the trade relations between the two countries.
Input- PTI
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SK Sharma is a content writer who writes on news, entertainment, and lifestyle topics. She has over four years of experience and is known for conveying information in simple and clear language.
