Overview

• The U.K. will eliminate import duties on 99% of Indian exports covering sectors such as leather, footwear and clothing.
• India will reduce tariffs on British whisky from 150% to 40% and on imported U.K. cars to 10% over a 10-year phase-in period.
• The pact aims to double bilateral trade to $120 billion by 2030 while boosting investment in technology and services.
• It introduces expanded visa commitments for business visitors, intra-corporate transferees and independent professionals alongside a social security agreement for short-term assignees.
• Signature in London next week will trigger a ratification process by the British Parliament and India’s Cabinet that could take up to a year before the deal takes effect.