UK pens 'landmark' £25.5bn trade deal with India

Tariffs to be slashed

After years of negotiations, the UK government has struck a trade deal with India that it set to increase bilateral trade by £25.5bn.

The deal will add £4.8bn to the UK economy and £2.2bn in wages each year in the long run, according to the government.  In addition, the agreement will see slashes to Indian tariffs on products such as whisky, medical devices and cosmetics, with reductions on 90% of tariff lines for UK exports expected.  UK City minister confirms government is not planning to emulate US strategic crypto reserve Of these tariff lines, 85% will become entirely tariff-free within a decade with automotive levies set to reduce from over 100% to 10% while gin and whisky duties will initially be halved fr...