The largest “since leaving the EU”, UK achieves historic agreement with India

According to the BBC, the new agreement between the two countries will make it easier for British firms to export whiskey, cars and other products to India, while lowering taxes on India's clothing and shoe exports.

The British government has announced that no change in immigration policy is involved in this agreement, including Indian students studying in the United Kingdom.

Meanwhile, Business Secretary Jonathan Reynolds has indicated that the agreement will bring benefits “massies” to businesses and consumers of the United Kingdom.

According to reports, last year the trade between the United Kingdom and India totaled 41 billion pounds and predicted to increase, but the government said the deal now reached would increase that amount by 25.5 billion extra pounds annually by 2040.

It has also been reported that in addition to the textile sector, several Indian foods, jewelry and precious stones are included in the deal.

The government has also stressed the benefits for economic growth and job creation by British firms that expand exports to India, adding that the deal was the largest and most economically important” bilateral trade agreement that the United Kingdom had signed since leaving the European Union in 2020.

The agreement between the countries is named by British Prime Minister Sir Keir Starmer as a “historic agreement” that would spur growth and “would provide results for British people and businesses”. While India's prime minister, Narendra Modi, has described the agreement as a historic moment that was “ambious and useful to both sides”.

Let us remember that India is projected to become the world's third largest economy within a few years./Periscopi/