Britian said Tuesday it has "secured the best deal [to which] India has ever agreed," and will provide "businesses with security and confidence to trade with the fastest-growing economy in the G20."

Britain and India have agreed on a hard-wrought free trade agreement that will reduce or eliminate tariffs on Scotch whisky and scores of other products.

One of the reasons the UK India free trade deal has taken so long to reach is that India had made big demands about visas for Indian professionals and students to work and study abroad. The British government said this deal does not include any change in immigration policy, including towards Indian students studying in the UK.