India and the United Kingdom have signed a landmark Free Trade Agreement (FTA) during Prime Minister Narendra Modi's visit to the UK, marking the most significant trade pact for Britain since Brexit.
The deal will reduce or eliminate tariffs on a wide range of goods, including Scotch whisky, cars, textiles, and medical devices, making many products cheaper for consumers in both countries. The agreement is expected to double bilateral trade to $120 billion by 2030, create thousands of jobs, and attract billions in new investment. While sectors like Indian textiles and British spirits are set to benefit, some industries, such as UK carmakers, expressed disappointment over the phased tariff reductions.
The FTA also includes provisions for increased market access, streamlined regulations, and enhanced cooperation, signaling a new era of economic partnership between the two nations.
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