UK Says India FTA to Slash Tariffs on Key Products

The UK and India have agreed a landmark trade deal which delivers on the UK government's core mission of growing the economy, raising living standards, and putting money in people's pockets, the UK government said in a statement.

- TDG NETWORK

Indian tariffs will be slashed, locking in reductions on 90 per cent of tariff lines, with 85 per cent of these becoming fully tariff-free within a decade.

Whisky and gin tariffs will be halved from 150 per cent to 75 per cent before reducing to 40 per cent by year ten of the deal, while automotive tariffs will go from over 100 per cent to 10 per cent under a quota, said the UK government statement.