India and the U.K. have finalized a historic Free Trade Agreement (FTA), along with a Double Contribution Convention
99% of Indian exports to the U.K. will now face zero import duties.
India will eliminate tariffs on 90% of British products, with 85% becoming duty-free within 10 years.
Indian goods like textiles, electronics, and pharmaceuticals get full market access in the U.K.
Tariffs on U.K. whisky and gin will be reduced gradually from 150% to 40% over 10 years.
Automotive tariffs from the U.K. will drop from over 100% to 10%, under a quota.
Other U.K. products with reduced tariffs include cosmetics, salmon, medical devices, and chocolate.
A Double Contribution Convention means Indian workers in the U.K. and their employers won’t pay social security for 3 years.
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