Historic India-UK FTA Takes Effect

 

New Delhi : British High Commissioner to India Lindy Cameron described the landmark India-UK Free Trade Agreement (FTA) that came into effect on Wednesday as "a historic moment" that will unlock new opportunities for businesses, workers and consumers in both countries while significantly deepening the bilateral economic partnership.

Addressing a press conference on the agreement's implementation, Cameron said the FTA would deliver broad-based benefits across sectors by reducing tariffs, improving market access and making it easier for businesses of all sizes to operate in each other's markets.

 

"The UK-India FTA has come into effect today. It is a really exciting day and a historic moment for the modern UK-India partnership," Cameron said, adding that the agreement is expected to increase bilateral trade by more than GBP 25 billion annually in the long run while boosting the combined GDP of both countries by nearly GBP 5 billion.