UK and India reach free trade agreement

According to BlockBeats, on May 6th, the UK government announced that India will reduce tariffs on 90% of UK imports, with 85% of them achieving zero tariffs within ten years. In addition, India will halve the tariffs on whisky and gin imported from the UK to 75%, and reduce car tariffs to 10% under quotas. It is expected that by 2040, the agreement between the UK and India will increase the UK's gross domestic product by £ 4.8 billion annually, while the trade agreement will increase bilateral trade by £ 25.5 billion annually. (Golden Ten)