New Delhi, May 6 -- India and the UK have successfully concluded an ambitious and mutually beneficial Free Trade Agreement (FTA), along with a Double Contribution Convention in a historic deal that will open up massive export opportunities for many labour-intensive sectors in India.

The conclusion of FTA was announced by Prime Minister Narendra Modi and his UK counterpart Sir Keir Starmer.

The Commerce and Industry Ministry said in release that the "historic and ambitious deal" will boost jobs, exports and national growth.

It said that 99 per cent Indian exports will benefit from zero duty and the agreement will provide significant boost to trade in services, such as IT/ITeS, financial services, professional services, other business se...