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.

The implementation date was agreed after Indian Prime Minister Narendra Modi and British Prime Minister Keir Starmer met on the sidelines of the Group of Seven summit in France in June. The two countries finalized the agreement in May 2025 before signing it in July 2025. The agreement aims to increase bilateral trade between India and the United Kingdom to $100 billion by 2030, up from approximately $55 billion-$60 billion currently.