06-July-2026
Economy News
 
Strict norms set for duty benefits under India-UK FTA — ‘Farm items must be wholly local’
06-Jul-2026

The India-UK free trade agreement has pegged the minimum local value addition level for manufactured products to qualify for lower duties between 35% to 55%, depending on where the value of the finished product is calculated. For agricultural products, largely local origin would be insisted upon. The minimum local value-added requirement under the so-called Rules of Origin rules for different products that would be traded between India and the UK at concessional duties once their Comprehensive Economic and Trade Agreemfaent (CETA) becomes operational has been notified by the Central Board of Indirect Taxes and Customs (CBIC).

News Source:- https://www.financialexpress.com/policy/economy/tighter-conditions-set-for-duty-benefits-under-uk-fta/4284154/?ref=hometop_hp