UK and India Sign Landmark Free Trade Agreement

According to PANews, the United Kingdom and India have officially signed a free trade agreement, eliminating tariffs on various products, including automobiles and alcoholic beverages. This agreement, reached after three years of negotiations, marks the largest trade deal for the UK since Brexit and the most significant trade agreement for India in a decade. Under the terms of the agreement, 90% of tariff items on UK exports to India will be reduced, with 85% becoming completely duty-free within ten years. Similarly, 99% of tariff items on Indian exports to the UK will receive reductions. The deal is expected to boost the UK economy by £4.8 billion annually and foster long-term trade growth between the two nations.