Tariffs Tumble, Trade Booms: India-UK FTA Paves Way To $120B Boom, But Revenue Will Take A Hit

The FTA targets $120-billion trade by 2030, with UK slashing car tariffs from 110% to 10% and removing duties on personal care and confectionery for India’s growing middle class.

Going ahead, experts and industry are betting on the long-term dividends of the FTA.  

Source : ABPLIVE AI

The India-UK free trade agreement (FTA), signed on July 24, has set the stage for unleashing the animal spirits in the trade and business relationship between the two countries which have decided to reduce tariffs on UK whisky from 150 per cent to 40 per cent over 10 years, as part of a comprehensive deal to eliminate tariffs on 90 per cent of current UK exports to India, with 85 per cent becoming completely tariff-free over the next decade. Overall, this means around 90 per cent of current UK