New Delhi, May 6 -- Cheaper chocolates, salmon and Scotch whiskey from the UK are on the way, with New Delhi and London agreeing to slash tariffs on a wide range of items. The India-UK free trade agreement (FTA) that concluded on Tuesday after three years of tough negotiations also eases the movement of skilled workers, settles the contentious issue of carbon tax, and opens up a large market for Indian exporters.

Indian businesses expected to benefit the most from zero-duty access to the UK include textiles, footwear, carpets, cars, and marine products, which currently face tariffs of 4% to 16%. The FTA promises to unlock major economic gains for India by eliminating tariffs on 99% of Indian exports, covering nearly 100% of the trade val...