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City A.M. @CityAM on x 79.2K followers
Created: 2025-07-24 12:32:22 UTC
Keir Starmer and his Indian counterpart Narendra Modi have signed a trade deal worth an estimated £6bn, with the UK Prime Minister hailing the landmark agreement a “historic day” for Britain and India.
The trade pact – the result of over three years of negotiations – will see tariffs on the whisky and cars that British firms export to India drastically reduced in return for Britain opening up elements labour market to Indian workers.
The bilateral deal is understood to be one of the most valuable of its kind to the UK economy, and will bring the average tariff on Indian imports from Britain from XX per cent to three per cent. It is hoped the deal will eventually provide an annual boost of £25.5bn in bilateral trade between the two countries.
Some XX per cent of all tariffs on UK-made goods sent to India will come down as a result of the deal, which was first announced in May, while XX per cent of tariff lines will have no trade levies whatsoever in XX years’ time.
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#uk #india #trade #economics #economy #politics #business #finance #tariffs #retail #labourmarket
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Related Topics tariffs india prime minister trade deal modi keir starmer keir