India and the UK have signed a landmark Free Trade Agreement (FTA) along with a Double Contribution Convention, hailed as a historic milestone by PM Narendra Modi. The FTA eliminates tariffs on nearly 99% of Indian exports to the UK, enhancing competitiveness in sectors like textiles, gems and jewellery, and pharmaceuticals.
The agreement also addresses long-standing issues such as social security contributions for Indian professionals working in the UK temporarily. Additionally, it paves the way for collaboration in emerging sectors like AI, cybersecurity, and digital transformation.
Bilateral trade is expected to double by 2030, with substantial gains for both economies in terms of exports, job creation, and market access