UK and India agree to annual tariff data exchange under CETA
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What happened
At the 16th meeting of the India–UK Joint Economic and Trade Committee, ministers Piyush Goyal and Jonathan Reynolds agreed to exchange annual data on businesses' use of tariff concessions under the Comprehensive Economic and Trade Agreement (CETA). This exchange is intended to ensure the pact delivers tangible gains for exporters, particularly small and medium-sized enterprises. The annual tracking of preferential tariff claims will begin one year after CETA entered into force.
From moneycontrol.com
Why it matters
The agreement aims to monitor the effectiveness of CETA in delivering trade gains between the two nations. By tracking how frequently businesses claim preferential tariffs, the countries seek to improve the implementation and support of the trade pact.
Negotiations are currently underway between India and the UK to deepen economic engagement and strengthen collaboration in innovation.
From moneycontrol.com
Who's involved
- Jonathan ReynoldsUK Business and Trade Secretary, who reviewed progress under CETA.
- Piyush GoyalCommerce and Industry Minister, who reviewed progress under CETA.
How it developed
Newest first. Tap a step to see who reported it.Specific agreement reached between UK and India on tariff data exchange.1 source
The ministers met to advance trade and aim to double bilateral trade by 2030.1 source
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The entities involved
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Jonathan Reynolds
British politician (born 1980)
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Piyush Goyal
Indian politician