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 milestone after years of negotiations.
The deal will significantly reduce or eliminate tariffs on a wide range of goods, including textiles, cars, whisky, and pharmaceuticals, aiming to boost bilateral trade by over $34 billion annually. Indian IT and manufacturing sectors, as well as British exporters of spirits and automobiles, are among the biggest beneficiaries. The agreement is expected to create thousands of jobs, increase market access, and foster closer economic ties between the two countries.
However, some sectors have expressed concerns about increased competition and the impact on public health, while certain products like electric vehicles remain excluded from immediate tariff reductions.
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