India-UK Forge Historic FTA, Boosting Trade Potential

India and the UK signed a free trade agreement, known as the Comprehensive Economic and Trade Agreement, which aims to eliminate tariffs on 99% of Indian exports to the UK. This landmark deal is expected to unlock $23 billion in new opportunities, enhancing trade relations between the two nations.

In a historic move, India and the United Kingdom have signed a free trade agreement, set to eliminate tariff barriers on 99% of Indian exports to the UK. This transformative deal marks a significant shift in bilateral economic relations.

Commerce Minister Piyush Goyal announced that the agreement will provide unprecedented duty-free access to labor-intensive Indian sectors. These sectors, including leather and electrical machinery, could potentially tap into a $23 billion opportunity in the UK market.

As India celebrates its 16th trade pact, the Comprehensive Economic and Trade Agreement promises to boost bilateral trade and investments. The deal is viewed as a strategic milestone in aligning closer economic ties between India and the UK.

(With inputs from agencies.)