UK-India Free Trade Agreement Slashes Tariffs on UK Beauty Exports
The UK and India have signed a Free Trade Agreement that will significantly reduce tariffs on UK cosmetics and personal care exports to India. The post UK-India Free Trade Agreement Slashes Tariffs on UK Beauty Exports appeared first on Global Cosmetics News.
THE WHAT? The UK and India have signed a Free Trade Agreement that will significantly reduce tariffs on UK cosmetics and personal care exports to India.
THE DETAILS Under the new deal, tariffs on UK beauty and personal care goods—previously among the highest globally—will be cut from day one, with further reductions phased in over the next decade. Based on current trade volumes, India’s tariff cuts across sectors are valued at £400 million in the first year, rising to around £900 million after 10 years. The deal also includes provisions to improve customs procedures and digital trade, which are expected to ease the movement of UK-made beauty products into the Indian market.
THE WHY? India represents a high-growth opportunity for UK beauty manufacturers, with a rapidly expanding middle class and increasing demand for imported personal care products. By lowering trade barriers, the agreement gives UK cosmetics companies improved price competitiveness and market access in one of the world’s fastest-growing economies.
The post UK-India Free Trade Agreement Slashes Tariffs on UK Beauty Exports appeared first on Global Cosmetics News.
