The United Kingdom and India reach a historic trade agreement that would significantly reduce many definitions
The United Kingdom and India agreed Free Trade Convention It would significantly reduce Definitions About Scotch And many other products. The agreement reaches more than three years after the start of the negotiations, which were not knocked under the previous British government.
Indian Prime Minister, Narendra ModiHe said at X that the agreement was “ambitious and useful for both parties.” While the British Prime Minister, Care StarmerHe described her as a “teacher” who assumes great news for British companies, British workers and British buyers.
he British government This is confirmed The agreement will reduce Indian taxes To import whiskey, cosmetics, medical products, auto parts, aircraft and other commodities from the United Kingdom.
Definitions on Whisper and jinn It will be reduced by half, from 150 % to 75 %, before decreasing to 40 % in the tenth year of the agreement. Auto tariff will be reduced from more than 100 % to 10 % by emergency virtue.
The Indian Ministry of Commerce announced this 99 % of Indian exports will not be subject to tariffs. “This makes us closer to our goal of becoming a global economic power. It protects our basic interests while opening the doors for greater participation in India in global value chains,” said Indian Minister of Trade Puouch Joyal.
office Moody He said that the agreement was covered Trade of both goods and services This is “new potentials that will open so that the two countries are developing products and services jointly for global markets.”
UK He said that the agreement from bilateral trade is expected to increase by 25.5 billion pounds (30,000 million euros) annually “in the long term.” Mark Kent, CEO of the Scotch Association, said the agreement will be a “transformative” industry.
India is one of Great World Whisper Markets Kent said that the agreement had “the possibility of increasing Scottish whiskey exports to India by 1,000 million pounds in the next five years.”
The agreement occurs while Countries are transferred all over the world to close trade agreements To compensate for the definitions imposed by the president Donald Trump To business partners in the United States.
The agreement with India was “a beacon of hope in the middle spectrum of the spectrum Protection“.
Commercial negotiations between the United Kingdom and India have started a long time ago Trump is re -elected, With official talks from 2022, Prime Minister Boris Johnson received at the time as a major goal after the United Kingdom’s departure from the European Union in 2020.
Johnson He promised to close an agreement to Diwali, in October of that year. The two countries celebrated 13 rounds of negotiations without making any progress before the talks were suspended, while both countries celebrated the public elections in 2024.
Moody It was re -elected and the United Kingdom replaced the conservative government, which was led by the Stemer Party. The two leaders spoke on Tuesday and said that he called Starmer to visit India soon. Starmer’s office said he would go “as soon as possible.”
