The British High Commission links the festival of lights to the India-UK trade pact, while Japan’s and France’s embassies hold celebrations of their own.
For the British High Commission in India, this Diwali came with an extra reason to celebrate: the trade deal between the two countries.
In a festive post on X, the High Commission said the smiles were especially bright this year now that the India-UK Free Trade Agreement has been delivered. It added that there are “loads more ahead” for the partnership and wished a happy Diwali to everyone celebrating.
The deal behind the celebration
The India-UK Comprehensive Economic and Trade Agreement (CETA) came into force in July. It is meant to bring the two economies closer by opening up markets, freeing up trade and cutting tariffs.
Key points of the agreement:
- Zero duty: Almost 99% of Indian exports can enter the UK without tariffs, covering nearly all of their trade value.
- Competitiveness: Indian goods are expected to become more competitive in the British market.
- Services: The deal includes some of the most ambitious services commitments the UK has made in any trade agreement.
- Growth: It is expected to increase two-way trade and investment and open up new business opportunities.
This Diwali, the UK’s festive message was also about trade. With the trade deal now in force, Britain is signalling that it sees much more ahead in its economic relationship with India.