The India-UK FTA has also been designed to make trade more inclusive. Now, women and youth entrepreneurs, farmers, fishermen, startups, and MSMEs will gain new access to global value chains.
The accord will unlock the duty-free access for about 99% of Indian exports, which will open the gate for $23 billion in opportunities for labour-intensive sectors, marking a new era for inclusive and gender-equitable growth.
The much-awaited landmark India-UK Free Trade Agreement was signed on Thursday, in the presence of Prime Ministers Narendra Modi and Keir Starmer, providing greater access to goods and services between the two countries.
Union cabinet approved the India-UK free trade agreement. It was set to sign on 24th July during PM Modi’s visit to London. The deal aims to double trade to $120 billion by 2030.
External Affairs Minister S Jaishankar on Thursday said that trade talks between India and the United States are ongoing, with negotiations still underway.
PM Modi, in a letter, said March 10, 2024, marks a new turn and a watershed moment in the bilateral relationship between India and the EFTA countries of Switzerland, Norway, Iceland and Liechtenstein.
Canadian PM Justin Trudeau signed an updated Free Trade Agreement (FTA) and several other bilateral agreements with Ukrainian President Volodymyr Zelenskyy