India and the United Kingdom have reached a significant milestone in their bilateral relationship with the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) and the Agreement on Social Security, marking a new chapter in trade, investment and workforce mobility between the two nations.
Announcing the development, Union Minister of Commerce & Industry Piyush Goyal said the agreements have come into force under the leadership of Prime Minister Narendra Modi, providing zero-duty market access for nearly 99% of India’s exports, covering almost 100% of the total trade value.
The India-UK CETA is expected to create substantial export opportunities across a wide range of sectors, including textiles, leather, gems and jewellery, engineering goods, marine products, chemicals, processed foods, MSMEs, agriculture, and manufacturing. The agreement also expands opportunities for India’s IT, professional, financial, education and business services sectors while enhancing mobility for skilled Indian professionals.
In addition, the Agreement on Social Security is expected to improve the competitiveness of Indian professionals working temporarily in the UK by exempting them from making double social security contributions for up to five years, reducing employment costs for both employees and employers.
Goyal described the agreements as a defining milestone in India-UK relations and expressed his appreciation to UK Secretary of State Peter Kyle and the negotiating teams from both countries for their efforts in successfully concluding the landmark agreements.
The implementation of the two agreements is expected to strengthen bilateral trade, encourage investment flows, deepen economic cooperation and build a resilient, innovation-driven partnership between India and the United Kingdom, benefiting businesses, exporters and professionals in both countries.
