Britain and India have reached a significant free trade agreement aimed at reducing tariffs on various goods, resulting in lower prices for consumers. This deal is projected to boost bilateral trade by £25 billion by 2040, locking in substantial tariff reductions for items like cars, whisky, and medical devices. Additionally, it includes a provision for Indian workers to be exempt from national insurance contributions for three years, facilitating workforce mobility. The UK government emphasizes this agreement as a step toward strengthening economic ties with one of the world's fastest-growing economies.
The agreement will see an increase in bilateral trade by £25 billion by 2040, locking in reductions on 90% of tariffs, with 85% becoming fully tariff free within a decade.
The Prime Minister spoke to Indian Prime Minister Narendra Modi, noting that through stable leadership, the UK has become attractive for business, culminating in this landmark deal.
Collection
[
|
...
]