India and the United Kingdom have signed a landmark free trade agreement (FTA) during Prime Minister Modi's visit to the UK, marking a major step in strengthening bilateral economic ties.
The deal will significantly reduce tariffs on a range of goods, including Scotch whisky, cars, textiles, and pharmaceuticals, and is expected to double bilateral trade to $120 billion by 2030. Thousands of jobs and billions in investments are projected for both countries, with new opportunities for Indian exporters and British manufacturers. While the agreement is hailed as a 'win-win', some sectors, such as Indian liquor companies and UK carmakers, have voiced concerns about specific terms.
The FTA also includes provisions for professional mobility, gender empowerment, and future cooperation in technology and defense.
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