TaxTMI 
TaxTMI 
Highlights of India-UK FTA
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....ighlights of India-UK FTA<BR>PTI News<BR>Dated:- 6-5-2025<BR>PTI<BR>New Delhi, May 6 (PTI) Following are the highlights of the India-UK free trade agreement and the Double Contribution Convention pact. *99 pc Indian exports to benefit from zero duty in UK market *Indian import duty will be slashed, locking in reductions on 90 pc of tariff lines, with 85 pc of these becoming fully tariff-free w....
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....ithin a decade. *Whisky and gin tariffs will be halved from 150 pc to 75 pc before reducing to 40 pc by ten years of the deal *Automotive tariffs will go from over 100 pc to 10 pc under a quota *Other goods with reduced import duties, which can open markets and make trade cheaper for businesses and Indian consumers, include cosmetics, aerospace, lamb, medical devices, salmon, electrical mach....
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....inery, soft drinks, chocolate and biscuits *British shoppers could see cheaper prices on products including clothes, footwear, and food products including frozen prawns as UK liberalises tariffs *The deal is expected to increase bilateral trade by £25.5 billion, UK GDP by £4.8 billion and wages by £2.2 billion each year in the long run. *Barriers to trading will be dropped, with India agre....
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....eing to reduce tariffs on a whole host of products including whisky, medical devices, advanced machinery, and lamb, making UK exports more competitive *Opens up export opportunities for labour-intensive sectors such as textiles, marine products, leather, footwear, sports goods and toys, gems and jewellery, engineering goods, auto parts and engines, and organic chemicals *Significant boost to t....
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....rade in services, such as IT/ITeS, financial services, professional services, other business services and educational services *Huge win with three-year exemption from social security payments for Indian employees working in the UK *Bilateral trade projected to double by 2030 from USD 60 billion *India will gain from tariff elimination on about 99 pc of the tariff lines covering almost 100 p....
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....c of the trade value offering huge opportunities for increase in the bilateral trade between India and the UK *India will benefit from FTA commitment from the UK in services such as IT/ITeS, financial, professional, and educational services *FTA eases mobility for professionals including Contractual Service Suppliers; Business Visitors; Investors; Intra-Corporate Transferees; partners and depe....
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....ndent children of Intra-Corporate Transferees with right to work; and Independent Professionals like yoga instructors, musicians and chefs *India secures significant commitments on digitally delivered services such as architecture, engineering, computer related and telecommunication services *The exemption for Indian workers who are temporarily in the UK and their employers from paying social ....
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....security contributions in the UK for a period of three years under the Double Contribution Convention will lead to significant financial gains for the Indian service providers and enhance their competitiveness in the UK. *India ensures that non-tariff barriers are suitably addressed to ensure free flow of goods and services and that they do not create unjustified restrictions to its exports. PTI ....
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....RR RR ANU ANU<BR> News - Press release - PIB....