Back to today’s briefing

Story perspectives

India and UK Sign Landmark $34 Billion Trade Deal

7/24/2025

28 2

Summary

Story summary

On July 24, 2025, India and the UK forged a groundbreaking free trade agreement, slashing tariffs on 99% of goods and propelling bilateral trade by an impressive $34 billion each year. This landmark deal not only opens new markets but also promises to create jobs for Indian youth and streamline professional mobility, with a bold goal to double trade to $120 billion by 2030.

History

Historical Context

India's economic liberalization in 1991 initiated a shift towards free-market policies, significantly boosting foreign investment and trade. The UK-India trade relationship has since expanded from $1.5 billion in 1991 to $34 billion annually, reflecting a broader trend of globalization. The recent free trade agreement aims to further strengthen economic ties and enhance competitiveness in global markets.

1 of 2

Story summary

On July 24, 2025, India and the UK forged a groundbreaking free trade agreement, slashing tariffs on 99% of goods and propelling bilateral trade by an impressive $34 billion each year. This landmark deal not only opens new markets but also promises to create jobs for Indian youth and streamline professional mobility, with a bold goal to double trade to $120 billion by 2030.

1 / 2