India, UK launch trade agreement, India set to export $140m
Business
India and the UK just kicked off a major trade agreement on July 15, 2026.
The idea? Make trading easier by cutting tariffs and opening up key markets.
On day one, India is set to export $140 million worth of goods to the UK a pretty strong start for this new partnership.
UK drops 97.7% tariffs, India reciprocates
The UK dropped tariffs on nearly all Indian exports, about 97.7%, while India is phasing out most tariffs too.
This means cheaper engineering goods, textiles, and especially gems and jewelry heading to the UK exports in these sectors are set to jump big time.
Plus, Indian professionals working in the UK will pay less social security, making it a win for both countries' economies and young workers looking abroad.