&imwidth=800&imheight=600&format=webp&quality=medium "UK-India trade deal worth over $6 billion to come into force on July 15")
The United Kingdom and India on Wednesday announced that their landmark free trade agreement will enter into force on 15 July despite a dispute over London’s forthcoming steel tariff regime. Indian officials had raised the prospect of reopening or delaying the application of the FTA, worth $6.5 billion, over concern about the impact of new UK steel trade measures, due to come into effect on July 1. But the two countries agreed to move ahead with implementation of the trade deal after British Prime Minister Keir Starmer held talks with his Indian counterpart Narendra Modi at the G7 Summit in France.
Prime Minister Narendra Modi said in a post on X, “A historic milestone for India-UK relations. Delighted to note that the India-UK Comprehensive Economic and Trade Agreement will enter into force on 15th July 2026. This agreement will significantly boost our bilateral trade and investment. It will also unlock numerous opportunities for Indian farmers, workers, MSMEs, startups and innovators and contribute meaningfully to the realisation of Viksit Bharat 2047.”
Businesses, which now have 28 days to prepare for the entry into force, will be able to trade under its terms from July 15th, following strenuous efforts to prepare UK and Indian systems.
Meanwhile, British Business and Trade Secretary Peter Kyle said in a statement, “The deal gives British exporters an edge over international competitors, and I would encourage all businesses to ensure they are properly prepared.”
Under the deal, India will cut whisky tariffs from 150 per cent to 40 per cent, and automotives from 100 per cent to 10% under a quota, with Britain cutting tariffs on goods such as clothes, footwear and some food.
The British government said businesses had 28 days to register in order to get the benefit of tariff reductions.
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Peter Kyle said, “We are bringing our landmark trade deal with India into force as quickly as we can, because we want businesses and the public to feel the benefits immediately, including cuts to tariffs of £400m within the first year alone.”
“The deal gives British exporters an edge over international competitors, and I would encourage all businesses to ensure they are properly prepared to allow them to sell to India’s huge market in the years to come.”
