India and the United Kingdom have signed a landmark Free Trade Agreement (FTA) during Prime Minister Modi's visit to the UK, marking a significant shift in their economic relationship.
The deal will reduce or eliminate tariffs on a wide range of goods, including textiles, cars, whisky, and chocolates, aiming to boost bilateral trade by over $34 billion annually. Key sectors such as textiles, leather, seafood, and premium spirits are expected to benefit, with Indian and British companies anticipating increased market access and investment. The agreement is projected to create thousands of jobs in both countries and attract billions in new investments, while also including provisions for labor mobility and gender empowerment.
However, some concerns remain over public health impacts and the exclusion of certain sectors like affordable electric vehicles.
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