Agneshwar Sen, Trade Policy Leader, EY India
By signing the India UK CETA, the two trade Ministers today took another important step to bring into effect this important and highly anticipated economic treaty. India UK CETA was agreed to by the two Prime Ministers in May this year. This is a transformative economic partnership agreement that will open up nearly 100% of trade between the two dynamic economies. It will eliminate tariffs on key Indian exports—from textiles and auto parts to seafood and jewellery—boosting MSMEs, job creation, and growth in labour-intensive sectors. UK firms will gain access to India’s vast consumer market. It is not just merchandise trade but in services trade as well Indian professionals will benefit from relaxed visa norms and a landmark social security deal.
Consumers on both sides will be the ultimate winner with greater choice and lower prices. This agreement is not just about trade—it’s a bold step toward inclusive, sustainable, and future-ready economic cooperation. The first time India is walking outside its known comfort zone to enter into a wide-ranging agreement with a major developed economy.
Bipin Sapra, Partner and Indirect Tax Trade Leader, EY India
“In the current global landscape marked by tariff-related uncertainty, the India-UK FTA is a timely and strategic move that can significantly boost sectors where India is aggressively targeting export growth. While the agreement offers certain concessions to UK industries, I believe Indian industry will remain resilient and competitive across most product categories – including high-consumption segments like chocolates and cosmetics. The long-term gains in market access and supply chain integration far outweigh any short-term concerns.”
Suresh Nair, Indirect Tax Partner – Consumer Products and Retail, EY India
“The India-UK Free Trade Agreement, finalized today, will reduce tariffs on nearly all Indian goods, enabling UK consumers to access more affordable textiles, food products, and a wide range of goods like leather, footwear, and jewellery. In India, lower tariffs on UK products, including cosmetics, beverages, cars, and medical devices, will increase variety and decrease costs in the retail market. This tariff liberalization will enhance competition, expand consumer options, and promote growth in the retail sectors of both countries.”