By Manoj ******* ar and Shivangi Acharya
NEW DELHI, July 15 (Reuters) - India and Britain's trade pact took effect on Wednesday, cutting tariffs on thousands of goods and expanding market access for services firms and professionals in both countries.
The India-UK Comprehensive Economic and Trade Agreement gives Indian exporters duty-free access to most British tariff lines, benefiting sectors such as textiles, leather, footwear, marine products, gems and jewellery, and processed foods.
Britain, meanwhile, gains greater access to one of the world's fastest-growing major economies through phased tariff cuts and quotas for sectors such as automobiles and silver, as well as openings in procurement, financial services, education, insurance and professional services.
Prime Minister Narendra Modi said in a post on X that the trade pact and accompanying social security agreement would deepen economic ties and give "fresh momentum" to India's farmers, entrepreneurs and small businesses.
NEW DELHI, July 15 (Reuters) - India and Britain's trade pact took effect on Wednesday, cutting tariffs on thousands of goods and expanding market access for services firms and professionals in both countries.
The India-UK Comprehensive Economic and Trade Agreement gives Indian exporters duty-free access to most British tariff lines, benefiting sectors such as textiles, leather, footwear, marine products, gems and jewellery, and processed foods.
Britain, meanwhile, gains greater access to one of the world's fastest-growing major economies through phased tariff cuts and quotas for sectors such as automobiles and silver, as well as openings in procurement, financial services, education, insurance and professional services.
Prime Minister Narendra Modi said in a post on X that the trade pact and accompanying social security agreement would deepen economic ties and give "fresh momentum" to India's farmers, entrepreneurs and small businesses.
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