The India-UK Comprehensive Economic and Trade Agreement (CETA) and the Agreement on Social Security came into force on July 15, 2026. This agreement aims to double bilateral trade to over $100 billion within the next 5 years by removing critical market barriers and easing cross-border professional mobility.
CETA provides zero-duty access for nearly 99% of exports from India. On the first day of the implementation of the agreement, export consignments worth over $140 million were flagged off.
Union Minister Piyush Goyal visited London ahead of the official implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) and the Double Contribution Convention (DCC), which are scheduled to come into force on July 15, 2026.
During the visit, he held a high-level bilateral meeting with Peter Kyle, the Secretary of State for Business and Trade of the UK. Piyush Goyal was conferred with the 'Special award for Exceptional Leadership in Elevating India-UK Relations'.
He also launched the 'UK-India CETA Business Utilisation Manual', a guide for Indian and UK businesses, and announced the deployment of 1,000 advisory personnel across India to assist businesses in maximizing the benefits of the India-UK CETA.
Giles Thomson of the United Kingdom has been appointed as the President of the Financial Action Task Force (FATF) for a 2-year term starting in July 2026. He succeeds Elisa de Anda Madrazo of Mexico.
India and the UK have launched the India-UK Critical Minerals Global Supply Chain Observatory (GSCO) in New Delhi. The platform was jointly inaugurated by Union Minister G Kishan Reddy and UK Foreign Secretary Yvette Cooper.
The initiative is a result of a partnership between the IIT (Indian School of Mines) (IIT-ISM) Dhanbad, TEXMiN, and the University of Cambridge.
The Agricultural and Processed Food Products Export Development Authority (APEDA) has facilitated the first-ever commercial export of fresh mangoes from Jharkhand to the United Kingdom.
The AUKUS (Australia, United Kingdom, and United States) security alliance has launched a joint underwater drone programme under the ‘AUKUS alliance Pillar Two’ to co-develop advanced Uncrewed Undersea Vehicles (UUVs).
The initiative aims to develop adaptable, multi-mission UUV payloads to support undersea operations and maintain the collective strategic advantage of the partner nations. The first delivery of UUV technology under this programme is expected by 2027.
The Parliament of the United Kingdom has passed the “Tobacco and Vapes Bill”, introducing a rolling, lifelong ban on tobacco purchases.
The ban targets any individual born on or after January 2009, effectively prohibiting them from ever legally purchasing tobacco products. The legislation is scheduled to officially take effect in January 2027.
The Asian Development Bank (ADB) has launched the Critical Minerals-to-Manufacturing (CMM) Financing Partnership Facility during the 59th Annual Meeting (AM) of the Board of Governors in Samarkand, Uzbekistan.
The facility includes a Grant Window (CMM Trust Fund) for early stage project preparation, supported by initial contributions of $20 million from Japan and $1.6 million from the UK. Additionally, a Catalytic Finance Window has been established for co-financing, with Korea Eximbank and the Korea Trade Insurance Corporation (K-SURE) signing initial memoranda worth $500 million as partners.