LONDON : India is expected to forego customs revenue of ₹4,060 crore in the first year of the free trade agreement (FTA) with the United Kingdom, as tariffs are reduced or eliminated on a wide range of goods, think tank Global Trade Research Initiative (GTRI) said on Monday (July 28, 2025).
The calculation is based on the current import figures from the United Kingdom. By the tenth year, it said, as tariff elimination phases-in more broadly, the annual loss is . . .
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