The India-UK Free Trade Agreement, coupled with improved market access secured during negotiations, is expected to boost India's steel exports to the UK to $1 billion in FY27, Commerce Secretary Rajesh Agrawal said on Monday.
In a press briefing, Agrawal said India successfully resolved one of the key sticking points in the trade negotiations by securing more favourable steel safeguard quotas than those offered to several of the UK's other trading partners.
According to Agrawal, nearly 80% of India's steel exports to the UK will not be subject to the UK's safeguard measures, ensuring uninterrupted market access.
The remaining 20%, covering around 100 steel product lines, will be protected through negotiated quota arrangements under the FTA.
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According to the Commerce Secretary, India's steel quotas under the agreement are valued at roughly $350 million, significantly higher than the UK's average quota allocation of around $200 million for other trade partners.
India's steel exports to the UK are currently estimated at around $900 million in FY26, and the government expects shipments to increase further as the FTA comes into force and businesses begin to benefit from improved market access.
On the European Union's proposed Carbon Border Adjustment Mechanism (CBAM), Agrawal said the framework is still evolving and has not yet been fully implemented.
He added that India remains actively engaged with its trading partners on the issue and continues discussions to safeguard the interests of its exporters as global carbon-related trade regulations take shape.
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