India-UK Forge New Economic Path with Landmark Free Trade Agreement

India and the UK signed a landmark Comprehensive Economic and Trade Agreement aiming to boost both economies by reducing tariffs on 99% of Indian exports and cutting tariffs on British products. The deal, firmed after three years of negotiations, promises job creation and market access across diverse sectors.

India and the United Kingdom have signed a historic free trade agreement, known as the Comprehensive Economic and Trade Agreement (CETA), designed to strengthen economic ties by slashing tariffs and unlocking jobs on both sides. This long-awaited pact was finalized after three years of complex negotiations.

The agreement was signed at the picturesque Great Hall of Chequers, with Commerce Minister Piyush Goyal and British Trade Secretary Jonathan Reynolds in attendance alongside the prime ministers of both nations. Indian and British officials claim the deal will boost exports and cut costs on thousands of items, including whisky and cars.

British PM Keir Starmer noted that the agreement is expected to create thousands of British jobs and pave the way for businesses to thrive, while Indian PM Narendra Modi emphasized the benefits for Indian sectors like textiles and agriculture. The agreement heralds a new era of collaboration and shared prosperity.

(With inputs from agencies.)