India-EU FTA and UK-India CETA: Two Reports, Two Parliaments Chart India’s Trade Future from Brussels to London
As the India-UK CETA enters into force and the India-EU FTA moves towards ratification, independent strategic intelligence reports by Water & Shark offer businesses a roadmap from trade agreements to actionable strategy.
NEW DELHI, July 15, 2026 – As the India-UK Comprehensive Economic and Trade Agreement (CETA) formally entered into force today, two independent strategic intelligence reports – one presented at the European Parliament in Brussels and the other launched at the UK Parliament in London – have sought to demystify the complex trade agreements for Indian businesses.
The reports, prepared by Water & Shark in association with the Europe India Centre for Business and Industry (EICBI), are not official government documents. They are private sector research publications designed to help businesses, investors, and institutions understand and prepare for the opportunities emerging from the India-EU and India-UK trade corridors. The India-EU FTA Report was subsequently presented to three Indian ministers – Industry Minister Dr. Uday Samant, Defence Minister Rajnath Singh, and Law Minister Arjun Ram Meghwal – and has since become a key reference document for policymakers and industry stakeholders.
India-EU FTA Report Presented at European Parliament
The first report, titled “India–EU FTA: From Market Access to Strategic Economic Corridors,” was presented on 9th June 2026 at the European Parliament in Brussels. The event was attended by Ms Angelika Niebler, the German Member of European Parliament who chairs the European Parliament’s Delegation for Relations with India, alongside Mr Vladimir Prebilic MEP, Mr Cristian Terhes MEP, and Mr Sudhakar Singh, an Indian MP from Bihar’s Buxar constituency.
The India-EU FTA, concluded on 27th January 2026 following the India-EU Summit in New Delhi, is one of the largest trade deals ever signed by either side. According to the European Commission, the agreement will liberalise tariffs on 99.5 per cent of the value of EU imports from India, while India will liberalise tariffs on 97 per cent of the value of imports from the EU over 7-10 years.
The Water & Shark report explores the agreement’s implications for trade, investment, supply-chain diversification, sustainability, digital commerce and cross-border business opportunities. It is positioned as a guide for Indian policymakers, exporters, investors and companies preparing for the next phase of the India–EU FTA.
Key themes explored in the report include:
- Beyond Tariffs: The India-EU FTA should be seen not only as a trade agreement but as a platform for strategic economic cooperation.
- Sectoral Opportunities: Major opportunities across manufacturing, services, technology, sustainability, mobility, pharmaceuticals, textiles, and food processing.
- Regulatory Readiness: Indian businesses will need to prepare for EU standards, compliance expectations, ESG requirements, customs rules and evolving market-entry conditions.
UK-India CETA Report Launched at Westminster
The second report, titled “UK–India CETA: From Agreement to Business Readiness,” was launched on 13th July 2026 at the UK Parliament in London during the UK India Leaders Conference 2026 – a day before the CETA formally entered into force.
The preview release was attended by Members of the UK Parliament of Indian origin, including Ms Sonia Kumar MP, Lord Rami Ranger and Lord Kuldip Sahota, alongside Baroness Pola Uddin (of Bangladeshi origin) and Navendu Mishra MP (of Indian origin). From Water & Shark, the team present included Advocate CA Harsh Patel, Founder & CEO; Mr Sujit S. Nair, Chairman of EICBI and Managing Director & Senior Partner; and Dr David Bozward, Chair of Global Research Board.
Centred around the theme “From Agreement to Action: Unlocking the Opportunities of the UK–India Free Trade Agreement,” the discussion examined how CETA could unlock opportunities across trade, investment, innovation, services, supply chains, and professional mobility.
The India-UK CETA, signed on 24th July 2025 after 14 rounds of negotiations, comprises 30 chapters covering trade in goods and services, digital trade, financial services, intellectual property, innovation, sustainability and government procurement. The agreement grants Indian exports zero-duty access to 99 per cent of tariff lines in the UK market. Sectors including textiles, leather, gems and jewellery, engineering goods, marine products, chemicals, processed foods, and MSMEs are expected to benefit significantly.
According to the UK India Business Council, the UK will eliminate tariffs on 99 per cent of Indian exports, while India will reduce tariffs on 90 per cent of UK exports, with most liberalisation set to occur within 5-7 years.
A Framework for Business Readiness
At the heart of both reports is a framework designed to help businesses move beyond seeing FTAs as mere tariff reduction tools. The reports emphasise that the success of trade agreements will depend not only on the framework negotiated by policymakers but also on the preparedness of businesses and institutions expected to use them.
The framework, articulated as the “Three Cs” – Confidence, Capability, and Consistency – was first outlined at the Maharashtra MSME Summit & Awards 2026 at the CIDCO Exhibition Centre in Vashi.
Confidence: Indian manufacturers and professionals must move beyond competing on low cost and position themselves as providers of premium quality and value.
Capability: Indian businesses must invest in genuine, world-class capability before seeking global mandates. Professionals such as Chartered Accountants and lawyers must evolve beyond reactive, historic accounting and transactional legal advice to develop policy literacy, diplomacy skills, and macro geopolitical expertise.
Consistency: FTAs must be viewed not as one-off tariff reductions but as long-term institutional partnerships.
The Road Ahead
With the India-UK CETA now in force and the India-EU FTA moving towards ratification, industry estimates suggest bilateral trade between India and the UK has the potential to nearly double to around USD 120 billion by 2030. The India-EU FTA, meanwhile, is expected to boost EU GDP by up to EUR 47.9 billion.
Commerce Secretary Rajesh Agrawal has described the India-UK CETA as a “defining milestone in India’s trade journey”. Commerce Minister Piyush Goyal has noted that the India-EU FTA presents a significant opportunity to strengthen economic ties.
The message from the two parliamentary events is clear: the agreements are now moving from negotiation to implementation. The question is no longer whether the deals will happen, but whether Indian businesses are ready to act.
About the Reports:
| Element | India-EU FTA Report | UK-India CETA Report |
|---|---|---|
| Title | “India–EU FTA: From Market Access to Strategic Economic Corridors” | “UK–India CETA: From Agreement to Business Readiness” |
| Launch Date | 9th June 2026 | 13th July 2026 |
| Venue | European Parliament, Brussels | UK Parliament, London |
| Organisers | Water & Shark in association with EICBI | Water & Shark in association with EICBI |
| Type | Independent strategic intelligence report | Independent strategic intelligence report |
| Key Presenters | Ms Angelika Niebler MEP, Mr Vladimir Prebilic MEP, Mr Cristian Terhes MEP, Mr Sudhakar Singh MP | Ms Sonia Kumar MP, Lord Rami Ranger, Lord Kuldip Sahota, Baroness Pola Uddin, Navendu Mishra MP |
About Water & Shark
Water & Shark is a global strategic advisory firm operating across 12 countries, specialising in trade policy, market access, regulatory strategy, and cross-border investment. The firm works with businesses, governments, and institutions to navigate complex international trade environments and build sustainable global partnerships.
About EICBI
The Europe India Centre for Business and Industry (EICBI) is an organisation accredited by the European Parliament, dedicated to strengthening economic and trade relations between Europe and India. EICBI has convened 36 parliamentary sessions across the EU and UK Parliaments and engaged over 2,880 companies from India, the EU, and the UK over the past decade.
