India’s recently signed free trade agreement (FTA) with the United Kingdom could boost the country’s economic growth by up to 25 basis points over the next five years, a Bloomberg report quoted Elara Capital. Economist Garima Kapoor told Bloomberg TV that the pact could deliver an immediate 10-15 basis point jump in GDP growth over the next two years. 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. Two-way trade between India and the UK stood at $21.9 billion in 2024. The trade deal was finalised on Thursday after three years of negotiation.