New Delhi, July 15 -- The India-UK Comprehensive Economic and Trade Agreement (CETA) came into effect on Wednesday, which is expected to boost bilateral commerce by reducing trade barriers and creating new opportunities for businesses of both sides.

For Indian exporters, the pact opens the door to UK's procurement market, valued at around £90 billion annually. At the same time, Indian consumers are also likely to benefit from lower prices on several premium British products as import duties have been reduced under the agreement.

The India-UK CETA gives zero-duty access to nearly 99% of India's exports, covering almost the entire value of goods India sells there. This essentially means that all those Indian products that previously ...