Britain and India's Groundbreaking Free Trade Pact Ignites New Era

In a major trade development, Britain and India have signed an eagerly awaited free trade pact, boosting bilateral trade by an estimated £25.5 billion by 2040. This deal concludes three years of on-and-off negotiations, intensified by tariff tensions from previous U.S. policies under Donald Trump.

The agreement significantly lowers tariffs, such as reducing the levy on Scotch whisky from 150% to 40% over ten years, while allowing British firms a stronger foothold in the Indian market. Indian exports, particularly textiles, will enjoy zero-duty benefits under this agreement, opening up new economic avenues for both countries.

Marking a renewed chapter in post-Brexit trade, the deal is not just a commercial milestone but also a diplomatic one, reflecting Britain's independent trade ambitions. However, questions remain on issues like carbon taxes, which could pose challenges in the future.

(With inputs from agencies.)