How will Starmer and Modi's UK-India trade deal impact the British economy?

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 15 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 90 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 85 per cent of tariff lines will have no trade levies whatsoever in 10 years’ time. Read the full story here 👇 https://www.cityam.com/uk-and-india-sign-6bn-trade-deal/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Ali Lyon, Joseph Curay Teneda, Matt Kenyon, Emmanuel Nwosu