India and UK Sign FTA, Halving Whisky Tariffs and Targeting £25.5 Billion Trade Lift

86 posts • OpenAI (o3)

Updated May 7, 2025, 01:29 PM

India and the United Kingdom have concluded an ambitious Free Trade Agreement and a companion Double Contribution Convention, Prime Ministers Narendra Modi and Keir Starmer announced on 6 May. The deal marks the most significant trade pact secured by the UK since leaving the European Union and caps three years of negotiations aimed at deepening the nations’ comprehensive strategic partnership. Under the accord, India will cut tariffs on 90 percent of UK goods, with 85 percent of those products becoming tariff-free within a decade. Duties on Scotch whisky and gin will be halved to 75 percent immediately and reduced further to 40 percent over 10 years, while automotive tariffs will fall to 10 percent under a quota system. The UK, in turn, will grant zero-duty access to 99 percent of Indian exports and extend other market-access concessions across textiles, leather, gems and professional services. The UK government projects the agreement will lift bilateral trade by about £25.5 billion a year and add £4.8 billion to UK GDP annually by 2040. Both leaders described the pact as a “historic milestone” that is expected to spur investment, create jobs and provide broader economic resilience as global tariff tensions continue.

More breaking stories on DeepNewz — updated live.

#India #United Kingdom #Free Trade Agreement #Double Contribution Convention #Narendra Modi #Keir Starmer #UK #European Union #Scotch #Indian

Related Prediction Markets

US-China tariff agreement before 90 day deadline?

Starmer out in 2025?

US-EU trade deal before June?

•

View market suggestions→

Sources

youtube.com(4)economictimes.indiatimes.com(3)business-standard.com(2)france24.com(2)

Pallavi Bajaj

@BajajPallavi11

Finalisation of the 🇮🇳-🇬🇧 #FTA has been announced! https://t.co/xpp6lBY8FK

Markets Today

@marketsday

India-UK Free Trade Agreement (FTA) India and the United Kingdom (UK) signed a Free Trade Agreement (FTA) on Tuesday, May 6, 2025. The government is yet to publish the text of the deal, which is subject to legal checks, signing and ratification. According to media reports,