Historic Win: Britain's Game-Changing Trade Deal with India
Britain and India have agreed on a landmark free trade agreement, marking a significant post-Brexit deal. This pact is expected to boost annual bilateral trade by 25.5 billion pounds by 2040. The agreement features significant tariff reductions on British exports, including whisky, benefiting both economies.
- Country:
- United Kingdom
Britain has secured a historic free trade agreement with India, marking the most significant post-Brexit deal for London. The accord was finalized amidst the backdrop of rising global trade tensions.
The agreement is set to enhance bilateral trade between the two nations by an estimated 25.5 billion pounds annually by 2040. Currently, trade between the UK and India totals 42.6 billion pounds, with India ranked as Britain's 11th largest trading partner.
Key aspects of the deal include India's commitment to slashing tariffs on various British products, such as whisky, machinery, and medical devices. These tariff reductions aim to boost trade and provide significant benefits to the British economy, particularly the Scotch whisky industry.
(With inputs from agencies.)
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