India-U.K. Comprehensive Economic and Trade Agreement Takes Effect on July 15
The India-U.K. Comprehensive Economic and Trade Agreement (CETA) takes effect on July 15, with provisions to reduce tariffs on automotive goods and Scotch whisky, and is expected to boost annual bilateral trade. Additional measures include social security exemptions for professionals, according to the Times of India, and the elimination of tariffs on cosmetics, as reported by gov.uk. The UK政府 says
The India-U.K. Comprehensive Economic and Trade Agreement (CETA) takes effect on July 15. The agreement is expected to boost annual bilateral trade from £48 billion. Tariffs on automotive goods and Scotch whisky will be reduced under the deal. According to gov.uk, tariffs on cosmetics will be eliminated. Professionals will benefit from social security exemptions, as reported by the Times of India. The UK government says CETA is the most comprehensive trade deal ever agreed by India and will boost UK GDP by £4.8bn annually in the long run and real wages in the UK by £2.2bn annually in the long run. Businesses have 28 days to prepare for the entry-into-force of the agreement, according to gov.uk.
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