In a significant development in New Delhi, India and the United Kingdom have signed a Free Trade Agreement (FTA) aimed at strengthening economic ties between the two countries. The agreement targets boosting bilateral trade to $120 billion by 2030, marking a major step towards enhanced cooperation.
Indian Prime Minister Narendra Modi has called on the UK to take swift action to implement the deal effectively, highlighting the mutual benefits for businesses and consumers on both sides. The FTA is expected to:
- Reduce tariffs
- Improve market access
- Create new opportunities for exporters and investors
Experts believe this agreement will open up new avenues for collaboration in sectors such as:
- Technology
- Manufacturing
- Services
With this deal, India aims to diversify its trade partners and reinforce its position in the global economy. The UK, post-Brexit, sees India as a key partner in expanding its trade network. Both nations expressed optimism about the future of their partnership and promised to work closely to resolve any challenges that arise.
This agreement sets the stage for stronger economic growth and job creation. Stay tuned to Questiqa India News for more latest updates.
