𝗜𝗻𝗱𝗶𝗮 𝗨𝗞 𝗧𝗿𝗮𝗱𝗲 𝗣𝗮𝗰𝘁 𝗗𝗶𝘀𝗰𝘂𝘀𝘀𝗶𝗼𝗻𝘀

𝗜𝗻𝗱𝗶𝗮 𝗨𝗞 𝗧𝗿𝗮𝗱𝗲 𝗣𝗮𝗰𝘁 𝗗𝗶𝘀𝗰𝘂𝘀𝘀𝗶𝗼𝗻𝘀

India and the United Kingdom are discussing issues to implement their free trade agreement. An Indian team is in London to finalize the pact signed in July 2025.

Key points of the trade discussions:

• The UK will change steel safeguard measures on July 1, 2026.
• New UK rules will reduce tariff-free steel import quotas by 60%.
• Steel imports above the new quota will face a 50% tariff.
• The UK plans to implement an import carbon pricing mechanism in 2027.
• This carbon tax covers iron, steel, aluminium, fertiliser, hydrogen, ceramics, glass, and cement.
• The tax may range from 14% to 24% of the import value.
• India exports $893.4 million of iron and steel products to the UK annually.
• The carbon tax affects $775 million of Indian exports to the UK.

India is also discussing European Union sanctions with EU officials. The EU proposed a new sanctions package against Russia. This package includes restrictions on 50 Indian companies. India follows United Nations sanctions.

Source: The Times of India