India, uk agree to landmark trade deal boosting economies

India and the United Kingdom have agreed to a trade deal after three years of negotiations. The agreement is expected to boost both economies. The British government anticipates a significant increase in bilateral trade, UK GDP, and wages. Indian tariffs will be significantly reduced, with many becoming fully tariff-free within a decade. Key beneficiaries include the British alcohol and car industries. Tariffs will also be reduced on British exports like cosmetics and medical devices. India's Trade Ministry stated that 99% of Indian exports would face no import duty under the deal. The agreement also includes a "Double Contribution Convention" exempting Indian workers in the UK from national insurance payments for up to three years, and vice versa.