Britain and India signed a landmark free trade agreement on Thursday during a visit to the UK by 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.

The India–United Kingdom Comprehensive Economic and Trade Agreement (CETA) is set to bring cheer to luxury car buyers in India as imported Rolls-Royce, Aston Martin, McLaren, Bentley, and Jaguar Land Rover (JLR) cars will see a drop in prices following a staggered reduction in customs duty once the British Parliament ratifies the deal.

The deal aims to double bilateral trade between India and the UK, from €60 billion to €120 billion by 2030, by reducing or eliminating tariffs on key goods and services