India and the United Kingdom's Comprehensive Economic and Trade Agreement took effect on July 15 and eliminated British tariffs on 99% of Indian exports, benefiting sectors such as processed foods, marine products, engineering goods, textiles, leather, chemicals, pharmaceuticals and gems and jewelry, Reuters reported the same day. In return, India will gradually reduce tariffs on British goods, covering 64% of tariff lines immediately and 85% within 10 years, benefiting sectors such as automobiles, Scotch whisky and gin.