- By Shreyansh Mangla
- Thu, 24 Jul 2025 03:58 PM (IST)
- Source:JND
India-UK Trade Deal: India and the UK on Thursday inked a landmark free trade agreement (FTA) that will significantly improve market access and will boost bilateral trade by around USD 34 billion annually. The deal was formalised in presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer. The FTA is expected to benefit 99 per cent Indian exports from tariff and will make it easier for British firms to export whisky, cars and other products to India besides boosting the overall trade basket.
The trade deal, firmed up after three years of negotiations, is expected to ensure comprehensive market access for Indian goods across all sectors and India will gain from tariff elimination on about 99 per cent of tariff lines (product categories) covering almost 100 per cent of the trade values. Given the significance of this event, several prominent dignitaries attended the event where the two leaders signed the hisstoric deal. Indian personalities who attended the event include:
1. Sunil Bharti Mittal, Chairman, Bharti Enterprises
2. Bhadresh Dodhia, Chairman, Dodhia Group
3. Prashant Ruia, Group Chief Executive, Essar
4. Anish Shah, Group CEO and MD, Mahindra & Mahindra
5. Ashish Kumar Chauhan, MD & CEO, NSE
6. Ritesh Aggarwal, Founder & Group CEO, OYO
7. K. Krithivasan, CEO & MD, TCS
8. Anil Agarwal, Chairman, Vedanta Resources
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What is a Free Trade Deal?
A free trade deal means that the signatory countries will either eliminate or significantly reduce tariffs and other trade barriers on a wide range of goods and services exchanged between them. This agreement aims to facilitate smoother import and export processes, fostering greater economic integration.
Why is the India-UK Trade Deal Important?
This free trade deal is a historic agreement that promises immense opportunities for India across various sectors, from traditional goods to diverse services and technology. It is anticipated to significantly boost bilateral trade by an estimated USD 34 billion annually, with the goal of doubling trade to D 120 billion by 2030.
The private sectors of both India and the UK are expected to benefit most from this trade deal. By representing major industries and companies that stand to gain directly through increased trade, investment, and market access, the presence of these prominent business leaders highlights private sector economies. It aims to create thousands of jobs, unlock new business opportunities, and drive growth in both nations.