India and the UK signed a Comprehensive Economic and Trade Agreement (CETA) in July 2025, eliminating tariffs on a wide range of goods and granting unprecedented access to public procurement markets.
The Federation of Indian Micro and Small & Medium Enterprises (FISME), the largest MSME body, hailed the agreement as historic. “This is the first FTA with a large Western economy where Indian goods faced substantial price disadvantages due to tariffs,” said Anil Bhardwaj, Secretary General of FISME.
