India and UK Sign Landmark Free Trade Agreement, Bilateral Trade to Reach $120 Billion by 2030

London (The Uttam Hindu): India and the UK have made history with the signing of a landmark Free Trade Agreement (FTA). The pact, signed in the presence of Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, is expected to boost bilateral trade by $34 billion annually.

The India-UK FTA will double trade between the two nations to $120 billion by 2030. The agreement will benefit 99% of Indian exports by reducing tariffs, making Indian goods like leather, shoes, auto parts, seafood, toys and clothing cheaper for British consumers.

In return, India will benefit from cheaper imports of British goods such as whiskey, chocolate, biscuits, salmon fish, cosmetics, accessories, medical products and luxury cars. This will put more money in the pockets of working people and improve the standard of living.

The agreement still needs approval from the British Parliament, which could take around a year. Once implemented, it will increase market access, create jobs and benefit businesses in both countries.