Overview

• The agreement reduces tariffs on 90% of UK exports to India, with 85% becoming tariff-free within a decade, and grants duty-free access to 99% of Indian exports to the UK.
• Key tariff cuts include whisky and gin, with rates dropping from 150% to 75% initially and to 40% by year ten, and automotive tariffs falling from over 100% to 10% under a quota system.
• The Double Contribution Convention exempts workers on temporary assignments in the UK or India from paying social security contributions for three years.
• The deal is projected to boost UK GDP by £4.8 billion annually and increase bilateral trade by £25.5 billion by 2040, benefiting sectors like whisky, automotive, textiles, and food products.
• While the FTA is finalized, parallel negotiations on a bilateral investment treaty and regulatory standards continue, with further discussions expected during PM Starmer's upcoming visit to India.