India and UK Finalize Historic Trade Agreement: Major Export Boost Expected

A landmark India-UK Free Trade Agreement (FTA) has been finalized, marking a new era in global trade and prosperity. The deal, officially signed during Prime Minister Narendra Modi’s visit to the United Kingdom, aims to significantly enhance bilateral trade, targeting a substantial increase to $120 billion by 2030. This ambitious goal represents a near doubling of the current trade volume between the two nations. Key Indian exports, including marine products, gems and jewelry, electrical machinery, leather/footwear, processed food, and textiles, are poised to benefit from the removal of import duties. The agreement grants 99% of Indian exports duty-free access to the British market, while also reducing tariffs on UK goods entering India, leading to more affordable products for Indian consumers. Furthermore, the FTA presents significant opportunities for India’s agricultural sector, with specific focus on exports like tea, mangoes, grapes, spices, and seafood.