A free trade agreement that made a difference between India and England.
The former Prime Minister of England, Mr. Boris Johnson, had announced that this agreement would come into effect around Diwali last year, when he was in India.
But due to various political changes in England this attempt was abandoned.
Now the new Prime Minister has implemented this FTA.
It was earlier decided that 25 contracts should be executed.
Both the heads of state had approved 16 agreements.
There was a delay in finalizing and implementing the rest of the agreements.
16 contracts have been implemented immediately as the delay is getting longer.
Imports of whiskey from UK and exports of automobiles from India are still undecided.
However, this agreement, which came into effect on December 29, 2022, has provided a huge opportunity to precious stones exporters of gems and jewellery.
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