India-UK FTA: Centre likely to issue notifications, announce customs changes by July 15

Indian negotiators ensured that the interests of the domestic steel industry are safeguarded under the trade deal with the UK, according to official sources. They also said that bilateral discussions on steel quotas will continue going forward. The Commerce and Industry Ministry has announced that the India-UK Free Trade Agreement (FTA) -- formally known as the Comprehensive Economic and Trade Agreement (CETA) -- will come into force on July 15.

Sources said that more than 85 per cent, or 188 steel tariff lines, will remain outside the scope of the UK's steel-related measures under the agreement.

Any issues arising after the deal comes into force can continue to be discussed under the WTO framework, an official said.

According to the sources, market access for Indian steel exporters is not expected to face any disruption. Discussions on steel quotas are expected to continue even after the agreement becomes operational.

The sources further said that the trade pact does not include any provisions related to the Carbon Border Adjustment Mechanism (CBAM), a proposed carbon-tax framework that could impose additional duties on carbon-intensive products such as steel, aluminium and iron.

"There have been no discussions on CBAM so far, and the UK has not yet introduced any such mechanism," the sources said.

The India-UK FTA is scheduled to take effect from July 15, with the government expected to issue the necessary notifications and customs-related changes before the rollout.