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 shift in their economic relationship.
The deal will significantly reduce tariffs on a wide range of goods, including whisky, cars, textiles, and seafood, and is expected to boost bilateral trade by over $34 billion annually. Both countries anticipate increased investment, job creation, and greater market access, with the UK projecting £6 billion in investment and thousands of new jobs. While the agreement is celebrated as a post-Brexit win for Britain and a sign of India's openness to global markets, some sectors, such as UK carmakers and Indian drinks producers, have expressed concerns about specific provisions.
The FTA is also seen as a strategic move by India as it eyes similar agreements with the EU and US.
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