The India-UK free trade agreement will be signed today. Therefore, the price of goods, including whiskey coming from there, will come down. Similarly, taxes on goods exported from india will be reduced. prime minister Narendra Modi is on a 4-day visit to countries including britain and the Maldives. His trip began yesterday. An important trade agreement will be signed in his presence in britain tomorrow. With this agreement, it is expected that trade between the two countries will increase to 120 billion dollars by 2030. The key features of the agreement are as follows.
India will exempt 90 percent of goods coming from britain from duty. According to this, duty on whisky and gin will be reduced from 150 percent to 75 percent. It will then be gradually reduced to 40 percent in 10 years. Duty on cars is likely to be reduced from 100 percent to 10 percent. Also, duties on goods like cosmetics, medical devices, salmon, chocolate, and biscuits will be reduced. The indian Ministry of Commerce has given some information about which prices will be reduced.
Accordingly, the UK will give us 99 percent duty-free access to indian goods. How this agreement will benefit india and the UK is that indian exports such as textiles, footwear, jewellery, furniture, auto spare parts, chemicals, machinery, and sports goods, which are currently between 4 percent and 16 percent, will not be subject to duty in the UK. According to the indian Ministry of Commerce, business people, contract service providers, yoga instructors, chefs, and musicians will be allowed to stay temporarily in the UK. It has been said that this agreement will give british companies an opportunity in the indian public procurement market.
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Sowmiya Sriram

24/07/2025 10:21 AM