Trade Winds Favor India: UK-India FTA Ushers in New Era of Economic Cooperation

The India-UK Free Trade Agreement (FTA), signed during Prime Minister Modi’s recent visit to the UK, represents a significant step in fostering global trade and prosperity. The agreement, finalized earlier this year, sets an ambitious target of $120 billion in bilateral trade by 2030, nearly doubling the current trade volume. Key provisions include zero-duty access for 99% of Indian exports to the UK and reduced tariffs on UK goods entering India. This agreement is expected to stimulate growth across multiple sectors. Specific commodities such as marine products, gems and jewelry, and textiles will benefit from the removal of import duties. Indian agriculture is also positioned to gain from the deal, with opportunities for products like tea, mangoes, and spices. Furthermore, the agreement addresses import duties on whisky, gin, and automobiles, indicating a comprehensive approach to trade facilitation.