The UK and India have finalized a significant free trade agreement, marking a key milestone in post-Brexit trade relations and expected to enhance economic growth.
On July 24, the UK and India officially signed a free trade agreement, which eliminates tariffs on numerous products, including cars and alcohol. After three years of negotiations, this agreement is the largest of its kind since the UK's EU withdrawal, expected to boost the UK economy by £4.8 billion annually. It will reduce tariffs on 90% of UK exports to India, with 85% becoming duty-free within ten years, while 99% of Indian exports to the UK will also see tariff reductions, fostering long-term trade growth between the two nations.