India, UK Dismantle Trade Walls

Comprehensive trade deal signed, allowing duty-free entry to 99% of Indian exports

- SHREYA NANDI

India and the United Kingdom (UK) on Thursday signed a modern and comprehensive trade agreement, marking a major milestone in their bilateral relationship at a time of rising geopolitical polarization and trade wars. Under the agreement, 99 percent of Indian exports will enter the UK duty-free, while 90 percent of UK goods will gain market access in India with zero tariffs.

The deal, known as the Comprehensive Economic and Trade Agreement (CETA), was signed by Union Commerce and Industry Minister Piyush Goyal and his British counterpart Jonathan Reynolds, 42 months after negotiations began in January 2022. The signing took place in the presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer at Chequers, the official countryside retreat of the British PM, in the Chiltern Hills of Buckinghamshire.