By Admin 
India uk free trade agreement: The prices of many things can be reduced after the Free Trade Agreement between India-Britain. Under an agreement, customs have been reduced from over several items, including Breetin’s Scotch whiskey to diamond, gold, silver and petroleum.
Also, Britain can deduct customs over the footwear and garment exported from India, due to which its export will increase further. Apart from this, the youth of the country can also benefit from the free trade agreement. The reason for this is that their studies and jobs in Britain will become easier. However, this agreement is yet to be discussed.
Many things cheaper than free trade
At present, 100 percent customs duty is imposed on cars coming from Britain to India, but it can be cheaper after the FTA seal between the two countries. Apart from wine and scotch whiskey, the prices of Jaguar Land Rover exported from Britain can also be reduced now.
Bilateral trade between India and Britain stood at $ 21.34 billion in financial year 2023-24. In the first 10 months of FY 2024-25, the trade of goods stood at $ 21.33 billion.
Business expected to be 120 billion by 2030
After this agreement, the trade between the two economy is expected to double $ 120 billion by the year 2030. India is the fifth largest economy in the world while Britain is sixth. In such a situation, after this agreement, business will get boost
In the UK market, 99 percent of Indian products will be reduced to zero when the FTA is implemented, while Indian workers will be allowed to travel without changes in Britain’s immigration system. Apart from this, taxes will be cut on the export of Indian textiles, frozen shrimp, jewelery and gems.
Indian products entering zero charges in the UK include minerals, chemicals, gems and jewelery, plastic, rubber, wood, paper, clothes, glass, ceramic, mechanical and electric machinery, weapons/ammunition, transport/vehicle, furniture, sports goods, animal products and processed foods.
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