UK and India signs ‘ambitious and mutually beneficial free trade agreement’
On May 6, 2025, the United Kingdom and India finalized a landmark Free Trade Agreement (FTA), marking a significant milestone in their bilateral relations. This ambitious and mutually beneficial pact aims to enhance trade, investment, and economic cooperation between the two nations. Key Highlights of the UK-India Free Trade Agreement 1. Tariff Reductions: India will substantially reduce tariffs on British exports, including whisky, gin, automobiles, and medical devices. Notably, whisky tariffs will decrease from 150% to 40% over a decade. 2. Market Access: The agreement improves access for British service firms to Indian markets and simplifies business travel for Indian professionals to the UK without altering immigration policies. 3. Economic Impact: The deal is projected to boost bilateral trade by £25.5 billion annually by 2040 and increase the UK's GDP by £4.8 billion. 4. Social Security Agreement: A Double Contribution […]