After the free trade deal between India and Britain, from cars, whiskey to wine... know what things can become cheaper:

News Topical, Digital Desk : India UK Free Trade Agreement: After the historic trade agreement (Free Trade Agreement) between India and Britain is approved, the prices of many things may come down. Under an agreement, customs duty has been reduced on many goods, including Britain's Scotch whisky to diamonds, gold, silver and petroleum.

Also, Britain can reduce customs duty on footwear and garments exported from India, due to which its export will increase further. Apart from this, the youth of the country can also get a big benefit from the free trade agreement. The reason for this is that their education and job will become easier in Britain. However, this agreement is yet to be discussed.

Many things are cheaper due to free trade

At present, 100 percent customs duty is levied on cars coming to India from Britain, but after the FTA is signed between the two countries, these may become cheaper. Apart from wine and scotch whisky, the prices of Jaguar Land Rover exported from Britain may also come down now.

Bilateral trade between India and UK stood at $21.34 billion in the financial year 2023-24. Trade in goods stood at $21.33 billion in the first 10 months of the financial year 2024-25.

Trade expected to reach 120 billion by 2030

After this agreement, the trade between the two economies is expected to double to $120 billion by 2030. India is the fifth largest economy in the world while Britain is the sixth. In such a situation, trade will get a boost after this agreement

Once the FTA is implemented, duty on 99 percent of Indian products in the UK market will be zero, while Indian workers will be allowed to travel without any change in the UK immigration system. Apart from this, taxes will be reduced on the export of Indian garments, frozen prawns, jewellery and gems.

Indian products entering the UK at zero duty include minerals, chemicals, gems and jewellery, plastics, rubber, wood, paper, textiles, glass, ceramics, mechanical and electrical machinery, arms/ammunition, transport/vehicles, furniture, sports goods, animal products and processed food items.