UK Firms Gain Easy Access to Indian Markets
CETA Allows Telecom, Construction Services Without Local Presence
The Comprehensive Economic and Trade Agreement (CETA), signed between India and the UK on July 24 in London, opens doors for British firms to offer services like telecom and construction in India without establishing local offices. The agreement, awaiting British Parliament approval, ensures UK companies receive national treatment, placing them on equal footing with Indian firms.
The commerce ministry highlighted that the CETA prioritizes services, a strength for both nations. India, with a $6.6 billion trade surplus in services ($19.8 billion exports, $13.2 billion imports), gains access to 137 UK sub-sectors. In return, India has opened 108 sub-sectors to UK firms, including accounting, auditing, financial services (74% FDI cap), telecom (100% FDI allowed), environmental services, and auxiliary air transport services.
The agreement, expected to be implemented within a year, strengthens bilateral trade ties, fostering seamless market access and economic cooperation between the two nations.
Also Read: India-UK CETA: A Game-Changing Trade Pact Explained
Also Read: India-UK CETA: A Game-Changing Trade Pact Explained
