Win-win for India, UK

FTA's preferential access to one of the most affluent markets a boost for India's high-end merchandise

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After more than three years of negotiations, India and the UK have clinched a landmark free trade agreement (FTA). This deal, between the world's fifth and sixth largest economies, could well serve as a template for equally ambitious FTAs with the European Union, other developed nations, and a trade agreement with the US. Bilateral trade in goods and services between India and the UK is expected to double from the current $60 billion in five years; today, it's a surplus of $11.23 billion in India's favour. The FTA appears mutually beneficial and the preferential access to one of the world's most affluent markets comes as a boost for India's high-end merchandise exports.