Blitz India Business
The figure for exporters is £25.5 billion — the long-run annual lift to two-way trade that independent estimates attach to the India–UK Comprehensive Economic and Trade Agreement, live from July 15. Britain removes duties on about 99% of Indian tariff lines at once, while India liberalises around 90% of its own.
The tariff schedule favours India’s labour-intensive base: up to 70% comes off some processed foods, about 21.5% off marine products, 18% off engineering goods and auto components, 16% off leather and footwear and 12% off textiles and clothing. A companion Double Contribution Convention, live the same day, spares Indian professionals on temporary UK postings from dual social-security contributions for up to five years — a direct cost saving for services exporters.
The tariff lines are the visible prize; the social-security convention is the quiet one that lowers the cost of exporting Indian services.
It is one deal in a sequence that reshapes the export map. India and the United States are in the final stretch of an interim pact, and a concluded India–EU agreement is moving toward signature — a widening web of preferential access that, over the medium term, alters where Indian corporates can compete on price.
The constructive read is that access only converts to revenue when firms operationalise it. The way forward runs through faster rules-of-origin certification, mutual recognition of standards and trade finance that reaches MSMEs — so the gains are captured by mid-sized exporters, not just the largest houses.