UK services providers to get local status in India

London waives 'economic needs test' for Indian professionals

- MUKESH JAGOTA

UNDER INDIA'S NEW Comprehensive Economic Partnership Agreement (CETA) with the UK, service providers from that country will be eligible for the same treatment as domestic companies, even without a local presence in India.

As per the provisions in the CETA signed on July 24, UK companies can now provide telecom, construction, and related services in India without establishing a local base, yet still enjoy full national treatment.

National treatment in a trade agreement requires that once goods or services have cleared customs and entered the market, they should be subject to the same regulations, taxes, and standards as those applied to domestic goods or services.