India, UK to Share Annual Trade Data to Boost Business Use of Free Trade Pact

India and the United Kingdom have committed to exchanging annual data on how businesses are utilizing their Comprehensive Economic and Trade Agreement, beginning one year after the pact's implementation. The announcement came Monday following the 16th meeting of the India-UK Joint Economic and Trade Committee in New Delhi.

The data-sharing initiative will track how frequently businesses claim lower tariffs available under the agreement, along with feedback on what aspects are working effectively and where additional support is needed. According to a joint statement, this will help identify priorities and enable both nations to better assist companies, particularly small and medium-sized enterprises, in taking advantage of the trade deal.

The trade agreement, which came into force on July 15, allows duty-free entry for 99 percent of Indian goods into the British market, while 90 percent of UK goods enter India either duty-free or at reduced tariffs. The pact benefits sectors including automotive, manufacturing, consumer goods, creative industries, and medical technology.

Early results show the agreement is already facilitating trade flows. Within two weeks of implementation, tariff-free Scottish salmon reached India, with several thousand kilograms exported since. Scotch whisky has entered the Indian market under reduced tariffs, and the first cars imported under special tariff quotas have cleared customs. On the pact's first day, Indian exporters sent over 50 consignments to the UK, including electronics, machinery, jewelry, garments, and agricultural products.

Commerce and Industry Minister Piyush Goyal and UK Secretary of State for Business Jonathan Reynolds chaired the meeting, where both sides also agreed to deepen cooperation across services, innovation, government procurement, and technology. The next committee meeting is scheduled for 2027 in the United Kingdom.