The India–UK Comprehensive Economic and Trade Agreement (CETA), officially inked on 24 July 2025 by Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, marks perhaps the UK’s most consequential trade deal post-Brexit. Negotiations spanned over three years and concluded with a formal agreement in May 2025, followed by ratification by both governments.

Under the deal, 99% of Indian exports — including gems and jewellery — will enter the UK without duty, eliminating existing tariffs of 2.5–4% and giving Indian exporters a competitive edge over rivals like Malaysia. The Gem & Jewellery Export Promotion Council (GJEPC) forecasts that shipments to the UK could jump from $400 million to $1 billion within two years, while overall gem and jewellery exports may climb from approximately $941 million to $2.5 billion, with total trade touching $7 billion.

Industry observers expect the FTA will boost UK–India bilateral trade by £25.5 billion annually by 2040, add £4.8 billion per year to UK GDP, and raise wages by £2.2 billion annually. During the signing ceremony, Jonathan Reynolds, the UK’s Trade Secretary and President of the Board of Trade, presented a coffee-table book while interacting with Indian officials — a gesture symbolising the partnership’s diplomatic and cultural weight.