GAMECHANGER: India, UK ink historic trade deal that seeks to slash tariff lines, unlock thousands of jobs

London

India and the UK on Thursday inked a landmark free trade agreement that seeks to boost both the economies, slash tariff lines across 99 per cent of Indian exports, unlock thousands of jobs and cut tariffs on British whisky, cars and an array of other items.
The pact, officially named as the Comprehensive Economic and Trade Agreement (CETA), was signed by  Commerce Minister Piyush Goyal and British Trade Secretary Jonathan Reynolds in the presence of the prime ministers of India and the UK.
The mega deal was formalised shortly after British PM Keir Starmer hosted Prime Minister Narendra Modi at Chequers, the countryside residence of the British PM.
The CETA, firmed up after three years of negotiations, is expected to ensure comprehensive market access for Indian goods across all sectors and India will gain from tariff elimination on about 99 per cent of tariff lines (product categories) covering almost 100 per cent of the trade values.
Modi said the UK and India are "natural partners" and said the nations were "writing a new chapter" in their history.He highlighted Indian textiles, footwear, gems and jewellery, seafood and engineering goods will get better market access in the UK, with agricultural products and processed food industry winning new opportunities for growth.
The PM went on to use cricket as a metaphor, saying there may be a "swing and a miss" at times, but they are committed to playing with a "straight bat" and building a "high-scoring, solid partnership".