India-UK Ink Landmark Free Trade Agreement: A New Era of Bilateral Trade

In a significant development on the international economic stage, India and the United Kingdom have signed a landmark free trade agreement aimed at transforming bilateral trade relations. The deal, witnessed by Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, is expected to augment annual trade by approximately USD 34 billion.

This comprehensive agreement will notably enhance market accessibility, particularly benefiting 99 percent of Indian exports through tariff elimination. The UK will gain the ability to more easily export its goods to the Indian market, including iconic products like whisky and cars, officials report.

After three years of intricate negotiations, the agreement promises comprehensive market access across all product sectors, ensuring tariff elimination for close to 100 percent of trade values, signaling a robust expansion of the trade basket between the two nations.

(With inputs from agencies.)