India-UK Free Trade Agreement: A New Era of Trade

India and the UK have embarked on a historic journey by signing the Comprehensive Economic and Trade Agreement (CETA), aiming to boost bilateral trade to an impressive $112 billion by 2030. This monumental agreement promises duty-free access for 99% of Indian exports to Britain, covering nearly all trade categories.

The trade deal was formally signed in London, with Prime Minister Narendra Modi and British Prime Minister Keir Starmer present, marking a significant milestone in India-UK relations.

What Gets Cheaper for Indians?

Indian consumers can look forward to lower prices on a variety of UK imports, including soft drinks, beauty products, chocolates, biscuits, salmon, lamb, and fish. The agreement also significantly reduces import duties on electric vehicles from 110% to 10% within specified quotas, benefiting premium British automotive brands like Rolls-Royce and Jaguar Land Rover.

Additionally, the import duties on whisky will see a reduction from 150% to 75%, with a further decrease to 40% over the next decade, making high-end international brands more accessible to Indian consumers.

Benefits Beyond Prices

The agreement not only makes British products more affordable but also enhances exports from India's labor-intensive industries such as textiles and leather, creating a win-win situation for both nations.