India and UK sign multibillion-dollar free trade agreement
New Delhi and London have set a bilateral trade target of $120 billion by 2030 Read Full Article at RT.com
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New Delhi has secured duty-free access for about 99% of Indian exports to Britain, according to its commerce minister
India and the UK signed a multibillion-dollar free trade agreement (FTA) in London on Thursday, at a meeting of prime ministers Narendra Modi and Keir Starmer.
Modi called the signing a “milestone moment,” while Starmer described it as the “the biggest and most economically significant” trade agreement signed by the UK since Brexit.
“I am delighted that after the hard work of several years, today our two nations have signed the Comprehensive Economic and Trade Agreement,” Modi said. He added that the deal “would boost key sectors including Indian textiles, footwear, gems and jewelry, seafood, and engineering goods.”
Under the agreement, India has agreed to reduce its average tariff on UK imports from 15% to 3%. The move will make British products such as gin and whisky, electricals and medical devices, cosmetics, chocolates, and luxury cars cheaper in India.
❗️ “Historic Day”: After Many Years of Hard Work a Comprehensive FTA Has Been Concluded -
