Brief by Shorts91 Newsdesk / 11:36am on 24 Jul 2025,Thursday Business
India and the UK have signed a landmark Free Trade Agreement (FTA) aiming to boost bilateral trade by over £25 billion annually by 2040. Under the deal, tariffs on Scotch whisky and British gin in India will be reduced from 150% to 75% immediately, with further cuts to 30–40% over 10 years. UK car import duties drop from over 100% to 10% under quotas. Meanwhile, 99% of Indian exports—including textiles, gems, and pharmaceuticals—will enter the UK duty-free. The agreement also eases visa rules for Indian professionals and opens up UK government procurement markets to Indian firms. (PC: HT Print)
