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New Delhi, Jul 24 (PTI) India's electronics sector has received a major boost, as exports of smartphones, optical fibre cables, and inverters to the United Kingdom will attract zero import duty under the Free Trade Agreement (FTA) signed on Thursday.
The India-UK FTA opens up export potential for Indian software firms, with the inclusion of IT and IT-enabled services in the list.
"Zero-duty access expected to accelerate exports of electronic products, with smartphones, optical fibre cables, and inverters set to strengthen India’s foothold in the UK market," an official source said. PTI PRS PRS DR DR
Zero-duty market access for electronics under India UK FTA expands export opportunities for hardware and IT services. The India-UK Free Trade Agreement establishes zero import duty entry for specified electronic goods, including smartphones, optical fibre cables, and inverters, granting tariff-free market access for those exported from India to the United Kingdom, and expressly includes IT and IT enabled services within its preferential trade scope to expand cross border provision of software and related services.Press 'Enter' after typing page number.