India-UK Trade Deal Signals Modi's Priorities
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Britain and India signed a landmark free trade agreement on Thursday during a visit to the UK by Prime Minister Narendra Modi, sealing a deal to cut tariffs on goods from textiles to whisky and cars and allow more market access for businesses.
The agreement promises duty-free access to UK markets for several sectors that form the backbone of Punjab’s economy, including textiles, cycle parts, auto components, sports goods, and agribusiness.
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Indian exports are set to benefit from duty elimination on about 99 percent of the tariff lines, covering almost 100 percent of the trade value, especially aiding labour-intensive shipments of textiles,