Indian products will dominate Britain, the economy of India will get a big boost after FTA

This agreement between Britain is indeed a ‘win-win’ situation for both countries. But India can have long -term benefits, as the export sector, especially MSME and agriculture, will gain power in the world market. The opportunities for Indian professionals in Britain will also increase. Talking about Britain will benefit immediate economic relief and access to the Indian market. The two countries intend to increase bilateral trade to $ 120 billion by 2030, the first target of the agreement. Britain is already a $ 36 billion investor in India. The agreement is expected to bring more investment in areas such as manufacturing, car and electric mobility. These products are sold in large numbers in Britain. The agreement will incur zero costs on more than 95% of agriculture and its linked food products, which will increase agriculture exports and strengthen the rural economy. It is estimated that agriculture exports will increase by more than 20% over the next three years, which will contribute to the agricultural export target of India by 2030. In India, 90% of UK products will be removed or reduced. Indian spices, fruits, vegetables and crafts become cheap and more available in Britain. Products such as Scotch Whiskey (150%to 75%, then 40%in 10 years), cars (100%to 10%), cosmetics, chocolate, rusks, salmon and medical equipment will become cheaper in India. Major opportunities for farmers open the premium for Indian farmers, the British market doors, which will be equal to or even more than the benefits of Germany, the Netherlands and other countries in the European Union. Turmeric, black pepper, cardamom, pickles and pulses also get a fee -free access. While British exports (whiskey, cars, medical equipment) to India can also rise by 60%. Its purpose is also to make trading processes simple and digital, which will reduce the trading costs. There is also part of this agreement that jobs in industries such as textile, leather and jewelery and jewelry in India will increase. The MSME region, especially Kolhapuri Chappals and Banarasi sarees, such as local crafts, will get an edge in the British market. Thousands of jobs will also be produced in the UK, especially in sectors with whiskey, car and medical equipment. 99% of India exports get a fee-free access in Britain, which currently charges 4-16% fees. It will greatly benefit areas such as cloth, leather, shoes, jewelry and jewelry, sea products, auto parts and electric vehicles. Especially as 95% of agricultural and marine products (such as shrimp, tuna, spices, turmeric, jackfruit) will gain a fee-free access, which is expected to increase by 20% over the next five years. The power of make in India is hopeful that after five years, this agreement will strengthen ‘Make in India’ and women’s entrepreneurship in India, as this agreement emphasizes gender equality and labor rights. Under this agreement, Indian professionals (such as IT, Health, Yoga Instructor) will benefit from three years of release in temporary visa and social security contribution in Britain. After 5 years, approximately 100 additional annual visas and increased labor mobility will provide more opportunities for Indian youth in Britain. It will be easier for over 60,000 IT professional people to work through temporary visa in Britain. The expansion of economic and strategic partnership will not only be limited to trade. By the year 2030, ie 5 years later, India and Britain will increase collaboration in areas such as defense, technology, education, climate and innovation under the ‘UK-India Vision 2035’. However, it is difficult to say now who will benefit more, because both countries will benefit a lot in different regions.