Historic Free Trade Deal: Britain and India Forge Economic Ties
Britain and India have signed a landmark free trade agreement, marking London's most significant post-Brexit pact. This deal aims to boost bilateral trade by £25.5 billion by 2040, including liberal market access and reduced trade barriers on goods such as whisky, manufactured parts, and food products.
- Country:
- United Kingdom
In a historic move, Britain and India have reached a free trade agreement on Tuesday, marking London's most substantial trade pact since Brexit. The deal was cemented amid the backdrop of recent tariff hikes by U.S. President Donald Trump.
This agreement unites the world's fifth and sixth largest economies after three tumultuous years of negotiations, promising to elevate bilateral trade by 25.5 billion pounds ($34 billion) by the year 2040. Core elements include enhanced market access and streamlined trade regulations.
Crucially, the pact reduces tariffs on British goods like whisky and food exports, including lamb, salmon, chocolate, and biscuits. It also sets quotas for automotive imports, benefiting both economies.
(With inputs from agencies.)
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