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India-UK Trade Surges 15% in First Full Month of Free Trade Agreement
M
Moneycontrol•13-10-2026, 13:18
India-UK Trade Surges 15% in First Full Month of Free Trade Agreement
- •Bilateral trade between India and the United Kingdom rose 15.08 percent year on year to nearly $2 billion in August, marking the first full month following the implementation of the Free Trade Agreement.
- •Imports from the UK grew 24.23 percent to $732.95 million, driven largely by a massive surge in silver imports, while India's exports increased 10.35 percent to $1.26 billion.
- •Electrical machinery and telecom instruments led India's export gains, with shipments climbing significantly over the previous year.
- •The faster growth in imports narrowed India's trade surplus with the UK to $527.37 million compared to the same period last year.
- •The Comprehensive Economic and Trade Agreement came into force on July 15, providing zero-duty access for 99 percent of Indian exports to the UK and tariff reductions for 90 percent of UK goods entering India.
Key Questions Answered
Bilateral trade between India and the United Kingdom rose by 15.08 percent year on year to nearly $2 billion in August, which marked the first full month following the implementation of the Free Trade Agreement.
Electrical machinery and equipment saw shipments rise by 115.61 percent to $181.62 million, while telecom instrument exports climbed 158.44 percent to $118.80 million. Other notable gainers included drug formulations, iron and steel, and precious-metal jewellery.
India's imports of silver from the UK rose to $113.94 million in August from just $2.80 million a year earlier, accounting for approximately 77.7 percent of the total $142.97 million increase in imports from the UK over the year.
