India and the United Kingdom have signed a landmark free trade agreement during Prime Minister Narendra Modi's visit to the UK, marking a major milestone in their economic relationship.
The deal will significantly reduce tariffs on a wide range of goods, including Scotch whisky, textiles, cars, and agricultural products, and is expected to boost bilateral trade by over $34 billion annually. Key sectors in both countries, such as food processing, textiles, pharmaceuticals, and alcoholic beverages, stand to benefit, with Indian exports gaining 99% duty-free access to the UK market. The agreement is also projected to create thousands of jobs, attract billions in investment, and set a template for future trade deals with other major economies.
However, some concerns remain over the impact on public health and certain domestic industries.
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