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India Advances Trade Network With UK FTAUS and EU Deals Progressing

India's historic free trade agreement with the UK is set for ratification, while interim trade talks with the US and early harvest negotiations with the EU target July milestones.

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Overview

  • The India-UK Free Trade Agreement eliminates tariffs on 99% of Indian exports and provides phased liberalization for 85% of UK products over a decade.
  • The UK-India FTA includes significant provisions for services, easing professional mobility and waiving UK social security contributions for Indian workers on temporary assignments.
  • India and the US are negotiating an interim trade deal by July 8 to avoid a 26% reciprocal tariff and address baseline duties, focusing on labor-intensive and agricultural sectors.
  • India and the EU aim to finalize an early harvest agreement by July, addressing tariff and non-tariff barriers while working toward a comprehensive FTA.
  • These trade developments align with India's strategy to expand global market access, safeguard sensitive sectors, and strengthen its economic leadership.