Britain and India signed a landmark free trade agreement on Thursday during a visit to the UK by Prime Minister Narendra Modi, sealing a deal to cut tariffs on goods from textiles to whisky and cars and allow more market access for businesses.

The Comprehensive Economic and Trade Agreement (CETA) between India and the UK aims to enhance e-commerce exports by exempting certain imports from proof of origin.

The agreement promises duty-free access to UK markets for several sectors that form the backbone of Punjab’s economy, including textiles, cycle parts, auto components, sports goods, and agribusiness.

The market access under the pact is limited to a few central government entities with higher thresholds around Rs 250 crore across goods, services and construction services.

Indian exports are set to benefit from duty elimination on about 99 percent of the tariff lines, covering almost 100 percent of the trade value, especially aiding labour-intensive shipments of textiles,

Highlighting the global significance of the agreement, Piyush Goyal asserted that the FTA reflects India's growing relevance on the world stage.

The landmark agreement between the two countries aims to reduce tariffs on a range of goods including textiles, whisky and cars, while improving market access for businesses on both sides.

News18, Doraiswami said initially Starmer was to visit India in the third week of July, however, the plan changed after the 51st G7 Summit at Kananaskis, Canada