Pakistan, July 24 -- Britain and India signed a major free trade agreement during Indian Prime Minister Narendra Modi's visit to the UK on July 24. The deal will cut tariffs on key goods such as textiles, Scotch whisky, and cars, while expanding market access for businesses in both countries. This agreement follows three years of negotiations and marks Britain's largest trade pact since leaving the European Union in 2020.

The deal aims to increase bilateral trade by £25.5 billion ($34 billion) by 2040. Immediately, tariffs on Scotch whisky will be cut from 150% to 75%, reducing further to 40% over the next decade. India will lower car import duties from over 100% to 10%, under a quota system that will be gradually liberalized. Aroun...