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India-UK FTA: What it means for Indian exporters
Big news for Indian exporters: a fresh free trade agreement with the UK, signed recently, is expected to double India's exports there by 2030.
The deal wipes out tariffs on gems and jewelry (currently $941 million in exports), dropping import duties from 4% to zero.
Engineering goods—worth $4 billion—are also set to benefit.
Deal opens up UK market for these sectors
The FTA cuts the 16% import duty on Indian leather and footwear, which could help these products grab more of the UK market.
Tariffs as high as 14% on electrical machinery are gone too.
Plus, there are reductions for chemicals and improved access for key sectors like textiles, auto parts, and seafood—all aiming toward doubling the current $56 billion in India-UK trade by 2030.