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The India-UK FTA explained
May 8, 2025
Discover the ins and outs of India’s new free trade agreement with the UK! Uncover how it potentially boosts economic relations and creates opportunities, especially for small and medium enterprises. The textile and IT sectors stand to gain, heralding job prospects, particularly for women. However, there's a twist—lower import duties on Scotch whiskey may hurt Indian liquor sales. What does this all mean for the future? Tune in for a fascinating analysis!
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Quick takeaways
- India's free trade agreement with the UK is set to boost its economy by enabling duty-free access for 99% of Indian exports.
- The FTA will lower tariffs on UK goods entering India, enhancing trade relationships and potentially doubling bilateral trade to $120 billion by 2030.
Deep dives
Benefits of the India-UK Free Trade Agreement (FTA)
India's new free trade agreement with the UK is expected to significantly benefit its economy by enhancing trade flows and increasing export competitiveness. The agreement enables 99% of Indian exports, including textiles, auto parts, and IT services, to access the UK market duty-free, which will help drive exports amidst shifting global trade dynamics. At the same time, India has agreed to lower tariffs on 90% of UK goods, which will facilitate British products like luxury cars entering India more easily, with tariffs on cars dropping from 100% to just 10%. This strategic partnership could potentially double bilateral trade to $120 billion by 2030, supporting both nations in their respective economic ambitions.
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