India, UK signs free trade agreement to boost bilateral trade between two countries
As a result of the bilateral FTA, India will cut automotive tariffs to 10% under a quota from over 100% currently
On May 6, India and the UK finalized a free trade agreement (FTA). The agreement, signed after three years of intense negotiations, is expected to increase bilateral trade by £25.5 billion by 2040 with liberal market access and eased trade restrictions.
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