Historic India-UK Free Trade Agreement Boosts Global Markets
India and the UK have signed a landmark free trade agreement, significantly reducing tariffs on key products such as whisky and cars. This deal is poised to boost bilateral trade by approximately USD 34 billion annually, benefiting Indian exports and easing access for British goods to the Indian market.

- Country:
- United Kingdom
India and the United Kingdom solidified their economic partnership by signing a transformative free trade agreement on Thursday, marking a pivotal moment in international trade relations. The agreement, inked by India's Commerce Minister Piyush Goyal and the UK's Trade Minister Jonathan Reynold, seeks to slash tariffs and foster economic growth between the nations.
This landmark FTA aims to benefit 99 percent of Indian exports by eliminating tariffs, while simultaneously facilitating the export of British goods including whisky and automobiles to the Indian market. Indian officials emphasize the comprehensive market access this agreement ensures across all sectors.
The deal, culmination of three years of rigorous negotiations, promises to enhance the trade basket by reducing tariffs for British exports from an average of 15 percent to a mere 3 percent, thereby streamlining trade and offering significant advantages to both economies.
(With inputs from agencies.)