India and the United Kingdom have signed a landmark Free Trade Agreement (FTA) during Prime Minister Narendra Modi's visit to London, hailed as a historic step in bilateral relations.
The deal will significantly reduce tariffs on a wide range of goods, including textiles, whisky, cars, seafood, and craft beverages, aiming to boost annual trade by over $34 billion. The agreement is expected to create thousands of jobs, attract billions in investment, and grant 99% of Indian exports duty-free access to the UK market. While the deal is celebrated for its economic benefits, some Indian liquor companies and UK carmakers have voiced concerns about competition and delayed tariff reductions.
The FTA also includes provisions for greater investment, a roadmap for future cooperation, and new opportunities for professionals and women entrepreneurs.
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