Historic Trade Deal Between India and UK

The commerce and industry minister Piyush Goyal announced that the trade deal with the UK is set to not only boost bilateral trade but also significantly increase job creation. "This agreement is expected to triple job opportunities in goods and services through enhanced bilateral trade," Goyal stated.

Market Access and Job Creation

Government sources highlight major gains in market access for Indian food products, textiles, and more, aiming to double trade to $120 billion by 2030. The textiles sector, in particular, is poised for growth with zero-duty access to the UK market.

Protection of Domestic Interests

Officials assured that domestic industries, including automobiles and whisky, are protected under the deal. For instance, whisky imports are not expected to surge, with duties proposed to be reduced gradually.

Implementation Timeline

The deal's implementation may take up to a year, including legal scrubbing and approval by the British Parliament, though efforts are underway to expedite the process.