India-UK FTA: UK whisky tariff cut to boost trade
India and the UK are about to sign a major Free Trade Agreement that drops tariffs on UK products from 15% to just 3%.
One standout: UK whisky will see its hefty 150% tariff cut in half, reducing the tariff to 75% immediately and further to 40% over the next 10 years.
The goal? To open up markets for British goods like soft drinks and medical devices, while giving both countries a trade boost.
Trade between the 2 nations could jump by 2040
This deal is set to bring nearly €6 billion in investment benefits to the UK and create over 2,200 new jobs in fields like aerospace and advanced manufacturing.
It also supports India's push for renewable energy by letting British companies get involved in this fast-growing sector.
By 2040, trade between the two nations could jump by almost 40%, showing just how much this partnership could grow.