The India-Britain agreement will increase the volume of bilateral trade by €25.5 billion.

The free trade agreement between India and the UK is projected to increase the volume of bilateral trade by €25.5 billion per year. This was announced on July 20 by Anna Shotbolt, Deputy Commissioner for South Asian Trade at the British High Commission.

She stressed that within the framework of this free trade agreement, there are provisions to reduce tariffs on 90% of the goods traded between the two countries.

"However, it's not just about tariffs, which are really an important aspect that will benefit many industries. Creative companies will also benefit from increased copyright protection, and the service sector will also benefit. The Convention for the Avoidance of Double Taxation will also help workers on both sides by providing greater transparency and certainty," the ANI news agency quoted her as saying.

The Free Trade Agreement between India and the United Kingdom (FTA), signed on May 6 after almost three years of negotiations, is one of the most comprehensive free trade agreements ever concluded by India, the agency emphasizes.

Ranjit Mehta, Director General and Secretary of the Indian Chamber of Commerce and Industry (PHDCCI), noted the importance of the social security provision, which supports Indian professionals traveling to the UK. According to him, people should take advantage of this free trade agreement.

Control purchase: BRICS countries' domestic trade reached $1 trillion

What are the priorities of the unification states now?

On July 12, Indian Prime Minister Narendra Modi announced that the country was rapidly approaching the status of the world's third largest economy. He added that the manufacturing industry remains one of the main pillars of the Indian economy and it is in it that a significant number of new jobs are being created.

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