India and the United Kingdom have signed a landmark free trade agreement during Prime Minister Narendra Modi's visit to the UK.
The deal eliminates or reduces tariffs on a wide range of goods, including cars, textiles, whisky, chocolates, and cosmetics, aiming to boost bilateral trade by up to $34 billion annually. Both countries expect increased market access, job creation, and enhanced investment, with the UK touting the agreement as its most significant post-Brexit trade achievement. While the deal is celebrated for its economic benefits, some domestic industries in both nations have expressed concerns about increased competition.
The agreement also includes commitments on technology cooperation, skilled migration, and joint efforts to combat extremism.
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