THE WHAT? The India-UK Comprehensive Economic and Trade Agreement (CETA) has come into force, reducing trade barriers and creating new opportunities for exporters while lowering tariffs on a range of British consumer products, including cosmetics.
THE DETAILS Under the agreement, nearly 99% of Indian exports to the UK will receive zero-duty access, benefiting sectors including textiles, pharmaceuticals, chemicals, engineering goods and processed foods. For Indian consumers, tariffs on imported British products such as cosmetics, Scotch whisky, premium vehicles, chocolates and selected food products are expected to fall over time. Trade experts also expect the agreement to strengthen bilateral investment, improve market access for businesses and simplify cross-border trade, particularly for Indian manufacturers and SMEs.
THE WHY? The agreement is expected to strengthen trade between two major consumer markets, creating new export opportunities for Indian businesses while making the UK a more accessible market and supporting long-term growth across consumer goods, including the beauty and personal care sector.
Source: NDTV
