India and the United Kingdom have agreed to exchange annual data on the use of their Comprehensive Economic and Trade Agreement (CETA). The initiative will track tariff concessions claimed by businesses and gather feedback on how the trade pact is working.

The decision followed the 16th meeting of the India–UK Joint Economic and Trade Committee (JETCO). The data exchange will begin one year after the agreement comes into force. It aims to help more companies, particularly small and medium-sized enterprises (SMEs), benefit from improved market access.

Trade Pact Opens New Market Opportunities

The agreement provides duty-free access to the UK market for 99% of Indian goods. Meanwhile, 90% of UK goods entering India qualify for duty-free or reduced-tariff treatment.

The pact covers several sectors, including automotive, manufacturing, consumer goods, creative industries and medical technology. These provisions are expected to support trade and create opportunities for businesses in both countries.

Early trade activity highlights the agreement's potential. Scottish salmon entered India at zero tariffs within two weeks of implementation, while Scotch whisky gained access at reduced tariff rates. The first cars exported under the tariff-rate quota have also cleared customs in India.

Indian Exporters Expand Shipments to the UK

Indian exporters began using the trade agreement from its first day. More than 50 consignments were sent to the UK, including smartphones, machinery, turbojets, gold jewellery, ready-made garments, woollen yarn, tea and coffee.

Commerce and Industry Minister Piyush Goyal and UK Business Secretary Jonathan Reynolds chaired the JETCO meeting. Both countries also agreed to establish committees, working groups and government contact points to ensure smooth implementation.

Focus on SMEs and Wider Economic Cooperation

The annual data exchange will help both governments identify implementation challenges and understand which tariff benefits businesses are using. It will also highlight areas where companies need additional guidance and support.

Beyond trade in goods, India and the UK agreed to deepen cooperation in services, innovation, government procurement, science and technology. They also plan to strengthen business partnerships and regional collaboration.

The 17th JETCO meeting is scheduled to take place in the UK in 2027. Regular reviews and industry feedback could help businesses make better use of the agreement and strengthen long-term trade relations between the two countries.