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 these products cheaper in both markets. The agreement is expected to double bilateral trade to $120 billion by 2030, create thousands of jobs, and attract billions in new investment. While some sectors, like British carmakers, expressed disappointment over the phased tariff reductions, the overall response has been positive, with both leaders hailing the deal as a blueprint for shared prosperity.
The FTA also includes provisions for increased market access, skilled migration, and cooperation on extradition and regulatory approvals.
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