After over three years of negotiations, the United Kingdom and India have finalized a comprehensive free trade agreement. This deal significantly reduces tariffs on a range of goods, including a phased reduction of whisky and gin tariffs in India from 150% to 40% over ten years. Additionally, 99% of Indian exports like textiles, food, and jewelry will face no import duty in the UK.
The agreement is expected to boost bilateral trade by £25.5 billion annually by 2040, marking a significant milestone in UK-India economic relations. It also includes provisions for services trade and modest changes to business mobility, enhancing opportunities for professionals in both countries. This partnership reflects a shared commitment to economic growth and mutual prosperity.
