India, UK Seal Historic Trade Deal to Boost Economic Ties
Prime Minister Narendra Modi of India made a formal announcement about completing a Free Trade Agreement with Britain on Tuesday which created major progress in bilateral ties. The bilateral Free Trade Agreement necessitated three years of discussions to yield its double convention part and targets a trade increase to £25.5 billion by 2040.
Read Also: Mock Air Raid Drill to Test India’s Civil Defence Readiness
Prime Minister Narendra Modi informed UK Prime Minister Keir Starmer that these new agreements would drive up their Comprehensive Strategic Partnership as they boosted economic activities involving trade investment, along with development and innovation in their territories.
Key benefits include:
- The agreement lowers customs taxes on whisky and advanced manufacturing parts, and food products.
- Import quota systems now allow certain automotive markets.
- Enhanced job creation opportunities
Read Also: Gaganyaan Mission from ISRO: First Uncrewed Launch Expected Late 2025
