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 chocolates, and is expected to increase bilateral trade by over $34 billion annually. The agreement provides duty-free access for about 99% of Indian exports to the UK and offers substantial benefits to sectors like textiles, leather, pharmaceuticals, and IT services. While the deal is hailed as a strategic win for both nations, some concerns remain over its impact on public health and certain industries.
The FTA is also seen as a post-Brexit boost for the UK and a sign of India's shift away from protectionism.
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