A historic agreement signed between India and Britain. As a result of this agreement, the duty on many products imported from the UK in the Indian market will be reduced at a massive rate. Union Commerce Minister Piyush Goyal and British Commerce Minister Jonathan Relanold signed the Free Trade Agreement in the presence of Prime Minister Narendra Modi and Britain’s Starmar.
Free Trade Agreement was signed between the historic India and Britain after three years of talks on Thursday.
Union Commerce Minister Piyush Goyal and British Commerce Minister Jonathan Relanold signed the agreement in the presence of Prime Minister Narendra Modi and Britain’s Prime Minister Keyrrmar. This historic agreement will significantly expand the business scope. As a result of this agreement, the duty on many products imported from the UK in the Indian market will be reduced at a massive rate. The price of foreign goods in the Indian market will be significantly reduced. There is also a possibility of exports from India. The agreement will make medical equipment, britain-made or imported aircraft from the UK cheaper than before. . The agreement is a good source of huysky, chocolate, biscuits, salmon fish, mudding materials, medical supplies and luxury vehicles. The average duty of all these products was 15 per cent earlier. Free Trade Agreement will reduce to 3 per cent.
According to the Free Trade Agreement, Britain will reduce Indian textiles 12% to zero.
Not only that, 18% of the tariffs on engineering goods will also be completely removed. India’s sea food will get new opportunities in the UK market. This agreement will be profitable for every class of India. Electric cars will be reduced from 110 per cent to 10 per cent. After the implementation of this trade agreement, British companies will make it easier to export whiskey and other products to India. living in the UK will be more convenient for Indians. Indians can work in 35 episodes in the UK without an office for two years. This can benefit 60,000 IT workers annually.
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