Historic India-UK Trade Deal Paves the Way for Economic Prosperity
India and the UK are set to sign a pivotal free trade agreement that removes taxes on labor-intensive exports and reduces tariffs on UK imports. The pact aims to double bilateral trade to USD 120 billion by 2030, with benefits spanning various sectors and easing professional mobility.
- Country:
- India
Prime Minister Narendra Modi is scheduled to visit London with Commerce and Industry Minister Piyush Goyal to sign a landmark free trade agreement with the UK, aiming to significantly boost bilateral trade.
The comprehensive pact seeks to eliminate tariffs on Indian labor-intensive products and lower taxes on UK imports, such as whisky and cars, fostering mutual economic growth.
As the negotiations conclude after three years, the agreement promises enhanced market access and streamlined professional mobility for both nations, potentially driving trade figures to USD 120 billion by 2030.
(With inputs from agencies.)
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