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India-UK FTA to turbocharge jobs, exports, economic growth, India says

By Freny Patel ( May 7, 2025, 00:14 GMT | Insight) -- MLex Summary: In a move projected to significantly boost job creation, propel exports and fuel national growth, India and the UK finalized a comprehensive free trade agreement and a Double Contribution Convention on Tuesday. The FTA eliminates tariffs on 99 percent of Indian exports to the UK, opening up major opportunities for sectors such as textiles, marine products, engineering goods and chemicals, while also enhancing trade in services such as IT and finance. Indian professionals will benefit from easier mobility and a three-year exemption from UK social-security payments, according to a statement issued by India's Ministry of Commerce & Industry. The FTA has been described as a "game-changer" by India's Commerce Secretary Sunil Barthwal. as it aims to further the country's rapid economic growth and benefit its global integration. This is the most comprehensive free trade deal ever entered into by India and will be the gold standard for our future engagements, he added. The statement from India's Ministry of Commerce & Industry follows: ...

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