Free Trade In Times Of Tariffs! How The Landmark India-UK Deal Will Boost Trade & Jobs

The landmark India–UK Free Trade Agreement (FTA) is being hailed as a “hugely important” breakthrough by British Prime Minister Keir Starmer, who is on his first official visit to India since taking office. The deal slashes tariffs on 90% of UK product lines, with average duties dropping from 15% to 3%, while the UK eliminates tariffs on 99% of Indian exports. Bilateral trade, currently at USD 56 billion, is projected to double by 2030, creating massive opportunities for sectors such as textiles, gems and jewellery, leather goods, agriculture, whisky, gin, aerospace, and luxury cars. Starmer, leading the UK’s largest-ever trade delegation to India, described the FTA as “not just a piece of paper, but a launchpad for growth,” as both nations gear up for a new era of economic partnership under ‘Vision 2035’. In this discussion, we decode what the deal means for businesses, jobs, and future trade ties with Sanjay Nayar (President, ASSOCHAM), Jayant Krishna (Senior Fellow, CSIS; former Group CEO, UKIBC), and Professor K. Vijayraghavan (Tata Institute of Fundamental Research).