India, July 24 -- The India-UK Free Trade Agreement (FTA), signed on Thursday, is set to be a major boost for Indian manufacturing and local entrepreneurs as the removal of tariff barriers would allow Indian labour-intensive goods to compete in the British market.

The free trade deal, officially Comprehensive Economic and Trade Agreement, will provide duty-free access to Indian goods such as leather, electrical machinery and chemicals in the British market.

The India-UK agreement, which would provide a level playing field for Indian products in the British market, will double trade between the two economies from $56 billion at present to around $120 billion by 2030.

The FTA is set to benefit a wide range of Indian products- from fruits...