Overview

• India's duty concessions for the auto sector under the FTA are linked to engine capacity and vehicle prices, with reductions phased over 10-15 years.
• Tariffs on automotive imports will drop from over 100% to 10% under quota systems, benefiting companies like Tata-JLR.
• The agreement eliminates import duties on 99% of Indian exports to the UK, supporting sectors like textiles, leather, and auto components.
• Provisions include reduced tariffs on UK Scotch whisky from 150% to 40% over a decade and mobility commitments for Indian professionals.
• The pact aims to double bilateral trade between India and the UK from the current $60 billion to $120 billion by 2030.