India-UK Forge Historic Free Trade Pact to Boost Exports

India and the UK have successfully finalized a historic free trade agreement aimed at substantially lowering tariffs on Indian exports and easing the import process for British goods like whisky and cars into the Indian market. This agreement, announced after a dialogue between Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, is expected to significantly escalate trade activities and deepen the economic partnership between the two nations.

Dubbed as the UK's largest trade deal since leaving the European Union, the agreement ensures zero duty on 99% of Indian exports and includes a Double Contribution Convention to accelerate trade, investment, growth, and employment opportunities. Market access will enhance in sectors such as textiles, marine products, auto parts, and organic chemicals, greatly benefiting both economies.

The agreement is set to boost bilateral trade by £25.5 billion and UK GDP by £4.8 billion annually. Besides, it is designed to ease professional mobility, facilitating movement for investors, business visitors, yoga instructors, and musicians. This landmark deal marks a strengthened alliance, opening up vast economic opportunities, and fostering ties between India and the UK.

(With inputs from agencies.)