New Delhi, July 17 -- India has significant scope to expand its exports to the United Kingdom as it currently supplies only about USD 14 billion worth of goods to the USD 900 billion UK market, according to a Bank of Baroda Economics Research report released on Friday.

"UK represents a US$ 900bn market, out of which only about US$ 14bn is supplied by India. Hence, the export potential is huge," the report said.

The India-UK Comprehensive Economic and Trade Agreement (CETA), which came into force on July 15, is expected to improve the competitiveness of Indian products by removing tariffs across major export categories.

"As per the terms of the agreement, around 99% of India's exports to the UK will now attract 0% tariff, providing a hu...