> The trade deal, which is forecast to boost bilateral trade by $34.4 billion yearly, is both India’s most comprehensive deal ever, and the UK’s most economically significant bilateral trade deal since leaving the EU, he added. Average tariffs for UK exports to India will drop from 15% to 3%, making it easier for British companies to sell goods in India.
> UK firms to access India’s non-sensitive federal government tenders above 2 billion rupees.
> The deal will give UK businesses access to India’s public procurement market, comprising about 40,000 tenders with a value of about $51.4 billion a year, according to UK government estimates
> India will reduce tariffs 90% on UK’s exports while 99% of India’s exports will be tariff free.
> Whisky tariffs for exports to India have been slashed in half, from 150% to 75%, giving the UK an immediate advantage over international competitors in reaching the Indian market, and the tariff will drop to 40% by 2035.
> The import tariffs for UK-made cars are currently at over 100 per cent tariff rates, which will be reduced to 10 per cent under a quota system.
> The two nations also continue to discuss UK plans for a tax on high-carbon industries, which India believes could hit its imports unfairly.
> “We express our gratitude to Prime Minister Starmer and his government for the strong condemnation of the terrorist attack in Pahalgam,” Modi also said at the press briefing, adding, “We are united in our view that there is no place for double standards in the fight against terrorism.”
> The two countries also unveiled a renewed Comprehensive Strategic Partnership – the UK-India Vision 2035 – taking “the relationship to new heights in a time of rapid global change,” Starmer said. The ambitious vision for 2035 will go beyond trade, towards innovation, deepening defence cooperation through a new Defence Industrial roadmap, tackling climate change and nurturing educational connections.
> New Delhi will also raise the issue of Khalistani extremism and the return of fugitive economic offenders during Prime Minister Narendra Modi’s two-day official visit to the country. “We also agree that forces with extremist ideologies cannot be allowed to misuse democratic freedoms,” Modi said, in reference to the presence of a section of Khalistani extremist elements in the UK. “Those who misuse democratic freedoms to undermine democracy itself must be held to account,” he added.
1 Comment
> The trade deal, which is forecast to boost bilateral trade by $34.4 billion yearly, is both India’s most comprehensive deal ever, and the UK’s most economically significant bilateral trade deal since leaving the EU, he added. Average tariffs for UK exports to India will drop from 15% to 3%, making it easier for British companies to sell goods in India.
> UK firms to access India’s non-sensitive federal government tenders above 2 billion rupees.
> The deal will give UK businesses access to India’s public procurement market, comprising about 40,000 tenders with a value of about $51.4 billion a year, according to UK government estimates
> India will reduce tariffs 90% on UK’s exports while 99% of India’s exports will be tariff free.
> Whisky tariffs for exports to India have been slashed in half, from 150% to 75%, giving the UK an immediate advantage over international competitors in reaching the Indian market, and the tariff will drop to 40% by 2035.
> The import tariffs for UK-made cars are currently at over 100 per cent tariff rates, which will be reduced to 10 per cent under a quota system.
> The two nations also continue to discuss UK plans for a tax on high-carbon industries, which India believes could hit its imports unfairly.
> “We express our gratitude to Prime Minister Starmer and his government for the strong condemnation of the terrorist attack in Pahalgam,” Modi also said at the press briefing, adding, “We are united in our view that there is no place for double standards in the fight against terrorism.”
> The two countries also unveiled a renewed Comprehensive Strategic Partnership – the UK-India Vision 2035 – taking “the relationship to new heights in a time of rapid global change,” Starmer said. The ambitious vision for 2035 will go beyond trade, towards innovation, deepening defence cooperation through a new Defence Industrial roadmap, tackling climate change and nurturing educational connections.
> New Delhi will also raise the issue of Khalistani extremism and the return of fugitive economic offenders during Prime Minister Narendra Modi’s two-day official visit to the country. “We also agree that forces with extremist ideologies cannot be allowed to misuse democratic freedoms,” Modi said, in reference to the presence of a section of Khalistani extremist elements in the UK. “Those who misuse democratic freedoms to undermine democracy itself must be held to account,” he added.