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India and UK conclude historic FTA and double contribution convention
The Political and Business Daily
|May 07, 2025
INDIA and the UK on Tuesday announced conclusion of the free trade agreement which will make British Scotch whiskey and cars cheaper in India, while reducing duties on Indian imports such as garments and leather products here.
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The announcement regarding the conclusion of talks was made by Prime Minister Keir Starmer and his Indian counterpart Narendra Modi.
The two sides also announced closing of talks for the Double Contribution Convention Agreement. However, talks on the proposed bilateral investment treaty between the two countries are still on.
As per the agreement, India will reduce duty on UK whisky and gin from 150 per cent to 75 per cent and further to 40 per cent in the tenth year of the deal. The tariffs on automotive will go down from over 100 per cent at present to 10 per cent, subject to a quota.
Denne historien er fra May 07, 2025-utgaven av The Political and Business Daily.
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