India's Minister of Commerce and Industry, Piyush Goyal, and British Secretary of State for International Trade Anne-Marie Trevelyan pose for a picture during the launch of free trade agreement (FTA) negotiations between the United Kingdom and India during an event at a hotel in New Delhi, India, January 13, 2022. REUTERS/Anushree Fadnavis
LONDON (Reuters) -Britain and India clinched a free trade agreement on Tuesday, in a landmark deal that represents London's most significant post-Brexit pact, and was finalised in the shadow of U.S. President Donald Trump's tariff increases.
The deal, between the world's fifth and sixth largest economies, has been concluded after three years of stop-start negotiations and aims increase bilateral trade by a further 25.5 billion pounds ($34 billion) by 2040 with liberal market access and eased trade restrictions.
The deal lowers tariffs on goods like whisky, advanced manufacturing parts and food products like lamb, salmon, chocolate and biscuits. It also agrees quotas on both sides for autos imports.
(Reporting by Alistair Smout; editing by William James)
