India-UK trade pact takes effect, promising tariff cuts and services boost

India and Britain's comprehensive trade pact became effective on Wednesday, ushering in tariff cuts on numerous goods and improved access for services companies and professionals in both markets. The agreement is poised to enhance bilateral trade and strengthen economic connections between the two nations.

Officials anticipate that the pact will unlock new opportunities for businesses and skilled workers. The tariff reductions are expected to make goods cheaper for consumers and businesses, while expanded access for services aims to facilitate easier movement for professionals and greater market penetration for companies in sectors like finance and technology.

This trade agreement marks a significant step in the post-Brexit relationship between India and the UK, signaling a commitment to deepening economic cooperation and fostering growth through increased trade and investment.