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UK and India Finalize 90% of Free Trade Agreement, Talks Accelerate

High-level discussions address remaining issues on tariffs, visas, and broader economic cooperation, signaling imminent completion of the landmark deal.

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Rachel Reeves, the chancellor, at the London Stock Exchange after talks with her Indian counterpart, Nirmala Sitharaman, left
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Overview

  • The UK and India have agreed on 90% of the terms for a Free Trade Agreement, with final negotiations focusing on tariffs for whisky, cars, and pharmaceuticals, as well as visa regulations.
  • Finance Minister Nirmala Sitharaman and UK Chancellor Rachel Reeves co-chaired the 13th UK-India Economic and Financial Dialogue, emphasizing strengthened trade and investment ties.
  • Both nations are negotiating a bilateral investment treaty alongside the FTA to bolster legal protections for cross-border investments and support key sectors such as financial services.
  • India highlighted its International Financial Services Centre (GIFT-IFSC) and digital economy as key drivers of growth during investor engagements in London.
  • Global economic shifts, including US-imposed tariffs, have added urgency to the agreement, with both sides aiming to finalize the deal in the near term.