The UK and India have finalized a trade deal aimed at boosting bilateral trade by £25.5 billion annually by 2040. The agreement reduces tariffs on various goods, including clothing, whisky, cars, and food products, benefiting both countries' consumers and businesses. While the deal won't immediately impact prices, it's expected to increase choice and potentially lead to job creation and economic growth in the long term. This is the UK's third-largest trade deal post-Brexit, though an EU-India deal would be even more significant.

Prepared by Christopher Adams and reviewed by editorial team.