India-UK Trade Deal: Boosting Bilateral Prosperity

The India-UK free trade agreement offers zero-duty benefits on 99% of Indian exports to the UK, cuts Indian import duties, and enhances trade in goods like whisky, automotive parts, and IT services. The deal aims to double bilateral trade by 2030 and includes a three-year social security exemption.

The recently concluded India-UK free trade agreement promises substantial economic gains with nearly 99% of Indian exports now benefitting from zero duty in the UK. The deal also envisions slashing import duties on Indian imports, affecting a broad range of products.

Notable reductions include halving whisky and gin tariffs from 150% to 75%, while automotive tariffs will drop significantly. British consumers can expect cheaper prices on diverse goods as the UK liberalizes tariffs on items such as clothes, footwear, and frozen prawns.

Projected to increase bilateral trade by £25.5 billion, the agreement also secures a three-year exemption from social security payments for Indian employees in the UK and boosts opportunities in sectors like financial services, engineering, and education. Bilateral trade is set to double by 2030, bolstering both economies.

(With inputs from agencies.)