New Delhi, July 15 -- India's trade relationship with the UK enters a new phase on 15 July, when the Comprehensive Economic and Trade Agreement (CETA) takes effect-giving Indian exporters duty-free access to most of the UK market and widening opportunities for services and professionals.

The pact is India's first major free trade agreement with a developed economy to become operational in recent years. The government expects it to lift bilateral trade between the world's fifth- and sixth-largest economies to $100 billion by 2030. Mint explains:

CETA is a comprehensive trade agreement designed to cut tariffs, widen market access and deepen investment and economic cooperation.

Its 30 chapters go beyond tariff cuts to cover digital trade,...