New Delhi 6 May,2025
India and the United Kingdom have successfully wrapped up negotiations for a Free Trade Agreement (FTA), a big leap towards the deepening of economic relations between the two nations. The deal will enhance trade, generate jobs, and stimulate investment on both sides.
The agreement was reached following several rounds of negotiations that encompassed major sectors such as textiles, pharmaceuticals, automobiles, information technology, agriculture, and services. Both nations' officials assured that the final agreement is fair, balanced, and good for both economies.
The deal will see the tariffs on various products lowered or scrapped, enhancing Indian exports to the UK. British businesses will also enjoy easier access to the Indian market in the same way. This is projected to boost business, particularly for small- and medium-sized enterprises, as well as enable them to access new customers.
Indian Prime Minister Narendra Modi and UK Prime Minister Rishi Sunak hailed the move as a "historic moment" in India-UK ties. They said the FTA will not just enhance trade but also bring the two nations closer on issues such as technology, education, and climate collaboration.
The agreement is also likely to generate thousands of new jobs across the two countries and enhance supply chains.
The FTA is now set to undergo legal examination and is most likely to be formally signed and implemented in a few months.
The agreement follows when both nations are seeking to increase their trade partners on a global scale as well as their diversification of markets.
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