India, UK Launch Annual Review System to Monitor Trade Deal Usage

India and the United Kingdom have established an annual monitoring system to track how businesses are utilizing tariff concessions under their Comprehensive Economic and Trade Agreement. The initiative aims to identify obstacles in implementation and enhance access to the deal's benefits for companies in both nations.

The tracking mechanism, announced following the 16th India-UK Joint Economic and Trade Committee meeting in New Delhi on October 12, will become operational one year after the agreement took effect on July 15, 2026. Officials will examine the frequency of preferential tariff claims and gather feedback from businesses about practical challenges they face while using the agreement.

Early trade activity shows businesses have already begun taking advantage of the deal. Indian exporters dispatched over 50 consignments to the UK on the first day of implementation, including smartphones, machinery, gold jewellery, garments, and tea. Meanwhile, Scottish salmon entered India at zero tariff within two weeks, and Scotch whisky gained access to reduced import duties.

Commerce and Industry Minister Piyush Goyal and UK Business and Trade Secretary Jonathan Reynolds reviewed the agreement's progress and agreed to establish committees and working groups to address implementation issues. Both countries also committed to strengthening cooperation in services, innovation, government procurement, and science and technology. The next committee meeting is scheduled to take place in the UK in 2027.