India and UK set July 15 FTA to double trade
Business
India and the UK are rolling out their free-trade agreement on July 15, 2026, announced at the G-7 summit.
The big goal? Give most Indian exports duty-free access to the UK and double trade between the two countries to $112 billion by 2030.
Tariff cuts boost Indian exports
Indian textiles and apparel will see tariffs scrapped; leather-product tariffs will be reduced. Leather exports could jump to more than $900 million in leather and footwear exports.
Sectors like toys, marine products, and chemicals also get a boost with zero duties.
On the flip side, UK companies benefit from lower tariffs on aerospace parts and medical devices, plus whisky duties are being slashed from 150% to 75%.
Sensitive Indian sectors like dairy stay protected under the deal.