India and UK Forge 'Landmark' Trade Deal: A Path to Double Trade by 2030

India and the UK finalized a groundbreaking trade agreement aiming to double bilateral trade to USD 120 billion by 2030. The deal eliminates tariffs on 99% of Indian goods and reduces taxes on certain exports while easing mobility for Indian professionals in the UK through a comprehensive Free Trade Agreement.

India and the United Kingdom have signed a significant trade agreement aimed at doubling their bilateral trade to USD 120 billion by 2030. The deal, concluded after three years of intermittent negotiations, removes tariffs on 99% of Indian goods entering the UK, allowing for zero-duty access.

The pact offers substantial opportunities for Indian workers, enabling them to travel to the UK for employment without altering Britain's point-based immigration system. It will slash tariffs on Indian clothing, frozen prawns, jewellery, and gems, along with reducing whisky and gin import taxes.

UK Prime Minister Keir Starmer hailed the agreement as a 'landmark' moment, stressing that it benefits working people and businesses in both countries. With significant reductions in tariff lines, the Free Trade Agreement is poised to enhance goods competitiveness and create new job opportunities, especially within the IT and finance sectors.

(With inputs from agencies.)