India Celebrates 'Historic' Trade Agreement with the UK

India's Trade Ministry has hailed the newly signed free trade agreement with the United Kingdom as a landmark achievement. This deal is expected to open up significant economic opportunities across various sectors, including goods and services.

Zero-Duty Access to the UK Market

An impressive 99% of Indian exports will now enjoy zero-duty access to the British market. This development is set to particularly benefit job-creating sectors such as textiles, leather, marine products, toys, and gems and jewellery.

Key Sectors to Benefit

Engineering goods, automotive components, and organic chemicals are among the other major beneficiaries. The agreement also marks a significant win for India's service industries, notably IT and financial services.

Social Security Contributions Exemption

A notable aspect of the deal is the three-year exemption from social security contributions for Indian workers in the UK, further enhancing the agreement's benefits.