India-UK FTA: Industry hails ‘landmark moment’
The India-UK Free Trade Agreement (FTA) officially came into force, marking a significant milestone for bilateral trade. This agreement, signed by Prime Minister Narendra Modi and UK Prime Minister Keir Starmer in July 2022, is projected to double trade between the two nations to £48 billion annually by 2030 and boost GDPs by nearly £5 billion each year. The FTA eliminates duties on 99% of Indian exports to the UK, impacting various sectors including textiles, leather, and processed foods.