UK and India Forge Landmark Trade Agreement

The UK and India have successfully concluded a significant trade agreement after three years of negotiations, aiming to facilitate exports and bolster economic ties between the two nations.

The agreement will enable UK businesses to export products like whisky and cars more easily to India's thriving market while cutting taxes on Indian clothing and footwear exports. The deal does not alter immigration policies affecting Indian students in the UK, as confirmed by the British government. Business Secretary Jonathan Reynolds hailed the deal as vastly beneficial for both UK businesses and consumers, forecasting an increase in trade from last year's £41 billion to an additional £25.5 billion annually by 2040. Reynolds recently met Indian Trade Minister Piyush Goyal in London to finalize the agreement. Post-enforcement, expected within a year, UK consumers could enjoy reduced tariffs on imports from India. The government underscored the potential for economic growth and job creation stemming from expanded exports. With India anticipated to become the world's third-largest economy soon, and Prime Minister Modi’s government aiming for a $1 trillion export target by 2030, this trade deal represents a strategic priority for both countries. Additional details will be published as the story develops; stay tuned for updates.