UK-India trade pact a 'gold standard': Envoy
The UK-India free trade agreement, effective Wednesday, is hailed as a 'new gold standard' for global trade, according to British High Commissioner Lindy Cameron. The Comprehensive Economic and Trade Agreement (CETA) secures zero-duty access for nearly 99% of India's exports to the UK and is projected to boost both nations' GDP by nearly £5 billion and increase bilateral trade by over £25 billion annually in the long run. The deal, finalized after three years of negotiations, is expected to significantly benefit various Indian sectors, including textiles and engineering goods.