"The agreement opens govt procurement in both countries... The agreement is mutually beneficial for both the economies," commerce secretary Sunil Barthwal said at a press conference.India is eyeing major gains in pharmaceuticals sectors, where its exports are under $1 billion. Currently, 48.2% of India's exports by value (47.3% of tariff lines) enter the UK at zero duty under the MFN regime. With the FTA, the coverage will be 99% of the goods and 100% of the value.On its part, India has opened 89.5% of its tariff lines, covering 91% of the UK's exports. "It strengthens cooperation while preserving India's sovereign rights in matters of patent policy and access to essential medicines," it said.

Source: The Times July 26, 2025 01:03 UTC