Tue, 06 May 2025

Tue, 06 May 2025 Four things you need to know about UK-India trade deal

Here's a quick guide to what's been agreed and what it could mean for you.

* The UK and India have agreed a trade deal to make it cheaper and easier to buy and sell goods and services between the two countries.
* The deal includes:
* Reduced tariffs on imports from India, including clothing, jewellery, and frozen prawns.
* Lowered taxes on goods imported from the UK, including whisky, gin, and cars.
* The agreement will allow British firms to compete for more services contracts in India.
* The trade deal is expected to boost trade between the two countries by an additional £25.5bn a year by 2040, with a potential economic benefit of £4.8bn for the UK. Impact:
* Indian consumers may see increased choice among goods from the UK.
* British businesses that manufacture products benefiting from lower tariffs, such as car makers and whisky distillers, are expected to gain.
* The deal could lead to higher profits for businesses exporting more goods to India, potentially resulting in increased hiring, investment, and tax payments.
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