India, UK seal free trade deal; PM Modi calls it 'historic milestone'

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India, UK seal free trade deal; PM Modi calls it 'historic milestone' - Business Standard

Quick Summary:

India has reduced import tariffs for whisky and gin from 150 per cent to 75 per cent, before slashing them to 40 per cent by year ten of the deal.

In a historic milestone, India and the UK have successfully concluded an ambitious and mutually beneficial free trade agreement, along with a double contribution convention.

For the UK, the FTA with India is the “biggest and the most economically significant” deal since it has been attempting to build a post-Brexit trade relationship with the world.