Saturday, September 19
Britain and India are set to formally sign a free trade agreement on Thursday during Prime Minister Narendra Modi's UK visit, following three years of negotiations. The deal then needs approvals from the British parliament and India's federal cabinet, likely within a year. Here are the key points of the agreement: TARIFF CUTS India to reduce tariffs on nearly 90% of UK goods Whisky and gin levy to fall from 150% to 75%, then to 40% in a decade Automobile tariff to fall from 100%-plus to 10% under quota Tariffs to be cut on other goods including cosmetics, medical devices, salmon, chocolates, biscuits UK to offer duty-free access to 99% of Indian items, according to Indian commerce ministry, covering nearly 100% of trade value BENEFITS FOR INDIAN SECTORS Indian exports such as textiles, fo
