Britain and India signed a free trade agreement on Thursday during a visit by Indian Prime Minister Narendra Modi, sealing a deal to cut tariffs on goods from textiles to whisky and cars and allow more market access for businesses.

India and the UK have signed a historic free trade agreement, slashing tariffs and boosting bilateral trade by $34 billion annually. The deal offers major gains for Indian exports and UK businesses, expands market access,

The UK and India plan to sign their long-awaited free trade agreement on Thursday, in a move which the British government said would add £4.8 billion ($6.5 billion) to the size of its economy.