Will the India-U.K. trade deal be different from India’s past FTAs? | The Hindu Editorial
The India‑U.K. Comprehensive Economic and Trade Agreement is portrayed as a more balanced free‑trade deal compared with India’s earlier FTAs. It promises zero‑duty access for most Indian exports and could enhance India’s role in global supply chains. However, concerns remain about whether Indian MSMEs can meet U.K. standards and avoid the shortcomings of past agreements.
- ▪The CETA offers zero‑duty access to the majority of Indian exports, a notable improvement over previous arrangements.
- ▪The deal is expected to strengthen India’s position in international supply chains if fully utilized.
- ▪Indian small and medium‑sized enterprises may face challenges in complying with U.K. regulatory and standards requirements.
- ▪Policymakers are cautious about repeating the pitfalls that affected earlier Indian trade agreements.
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The India-U.K. Comprehensive Economic and Trade Agreement (CETA) is being seen as a more balanced free trade deal than many of India’s earlier agreements. The pact offers zero-duty access to most Indian exports and could strengthen India’s position in global supply chains. But will Indian businesses, especially MSMEs, be able to take advantage of these opportunities? What challenges remain in meeting U.K. standards and compliance requirements? And can India avoid the pitfalls that affected some of its earlier trade agreements?
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