Prime Minister Narendra Modi arrived in London on Wednesday evening for his two-day visit to the United Kingdom (UK), and said that a “strong friendship between the two countries is essential for global progress”.

The free trade agreement is India’s first major bilateral trade agreement with a developed economy in over a decade.

The impending India-United Kingdom trade agreement, poised to slash import duties on luxury cars to 10%, has disrupted the Indian luxury car market. Wealthy customers are delaying or cancelling orders, anticipating lower prices. Dealers face frustration and potential losses as brands may divert production to other markets, while advising customers on potential price increases and delayed implementation.