BRITAIN AND INDIA SIGN FREE TRADE PACT DURING MODI VISIT – Starmer said the signing of a trade deal was a “historic day” for the two countries.
Sir Keir Starmer told Indian counterpart Narendra Modi the signing of a trade deal was a “historic day” for the two countries. At the Prime Minister’s country residence, Chequers, Sir Keir said the deal marked a “step change” in relations.
Mr Modi said they were “writing a new chapter” in the UK and India’s shared history. The deal is set to be worth £6 billion in investment for the British economy and the two leaders have also agreed to increase efforts to tackle illegal migration and organised crime.
The UK-India trade deal is understood to be the largest of its kind for its economic impact on Britain. It will see tariffs on an array of British goods reduced from an average of 15% to 3%, with the aim of boosting the £11 billion of imports into the south Asian nation.
Whisky tariffs will be slashed in half and will fall further over successive years, while other industries, including soft drinks, cars and cosmetics, are also expected to see cheaper duties.
The deal is expected to result in 2,200 jobs across the country and £6 billion investment by British and Indian businesses. The UK and India are also bolstering co-operation on tackling corruption, fraud, organised crime and illegal migration by sharing criminal records and other intelligence.
