- India and the UK agreed on steel trade rules to implement the bilateral Free Trade Agreement
- About 85% of India's steel exports to the UK will not be affected by new trade measures
- India secured market access via Country-Specific Quotas, residual quotas, and Authorised Use Scheme
India and the UK have reached a consensus on steel trade arrangements, paving the way for the implementation of the bilateral Free Trade Agreement (FTA), according to the Commerce Ministry.
The agreement comes after India raised concerns over the UK's upcoming steel trade measures, which are scheduled to take effect from July 1, 2026. Both sides have agreed on mechanisms aimed at protecting commercial interests while minimising disruptions to trade flows.
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The Commerce Ministry said around 85% of India's steel exports to the UK will remain outside the scope of the new measures. For product lines that are affected, India has secured market access through a combination of Country-Specific Quotas (CSQ), residual quotas and provisions under the Authorised Use Scheme (AUS).
The understanding is expected to address industry concerns and remove a key obstacle to the operationalisation of the India-UK FTA, ensuring continued access for Indian steel exporters to the British market.
Earlier, Prime Minister Narendra Modi welcomed the entry into force of the India-UK Comprehensive Economic and Trade Agreement (CETA) from July 15, 2026, calling it a "historic milestone" in bilateral ties.
In a post on X, Modi said the agreement would provide a significant boost to trade and investment flows between the two countries while creating fresh opportunities for Indian farmers, workers, micro, small and medium enterprises (MSMEs), startups and innovators.
"This agreement will significantly boost our bilateral trade and investment. It will also unlock numerous opportunities for Indian farmers, workers, MSMEs, startups and innovators and contribute meaningfully to the realisation of Viksit Bharat 2047," Modi said.
The prime minister added that both he and UK Prime Minister Keir Starmer, who are attending the G7 Summit in Evian, were pleased with the momentum the trade pact is expected to bring to economic relations between the two nations.
"A historic milestone for India-UK relations," Modi wrote, noting that the agreement marks a new phase in the bilateral economic partnership.
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