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India-UK trade deal comes into effect: What’s cheaper in each country now?

Asia-Pacific 2 sources 2 countries 🔦 Under-reported 50m ago

# India-UK Free Trade Agreement Takes Effect

A landmark free trade agreement between India and the United Kingdom has taken effect, marking what has been described as India's most ambitious trade deal. The agreement grants zero-duty market access for nearly 99% of India's exports to the UK, substantially reducing tariff barriers between the two nations.

The trade deal represents a significant development in India-UK economic relations, eliminating duties on the vast majority of Indian goods entering the British market. This preferential access is expected to facilitate increased bilateral trade and strengthen economic ties between the two countries.

The timing of the agreement's implementation comes amid broader developments in India's international trade relationships. Concurrently, US senators have proposed new legislation that would impose 100% tariffs on India in response to Indian purchases of Russian oil, introducing a counterbalancing trade pressure from another major trading partner.

In-depth summary · AI, neutral
Read the full story at the source Al Jazeera · QA

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