Starmer And Modi Set To Sign Off On UK-India Trade Deal
LONDON, July 24 (Bernama-PA Media/dpa) -- British Prime Minister Keir Starmer and his Indian counterpart Narendra Modi, are set to sign off on a trade deal worth £6 billion (US$8.15 billion) in investment for the British economy, reported PA Media/dpa news.
Starmer and Modi also agreed ahead of their meeting on Thursday to ramp up joint efforts to tackle illegal migration and organised crime.
The UK-India trade deal is understood to be the largest of its kind for its economic impact on Britain.
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It will see tariffs on an array of British goods reduced from an average of 15 per cent to 3 per cent, with the aim of boosting the £11 billion of imports into the south Asian nation.
Whisky tariffs will be slashed in half, according to the UK government, and will fall further over successive years, while other industries, including soft drinks, cars and cosmetics, are also expected to see cheaper duties.
Before his meeting with Modi to confirm the deal, Starmer said: 'Our landmark trade deal with India is a major win for Britain. It will create thousands of British jobs across the UK, unlock new opportunities for businesses and drive growth in every corner of the country, delivering on our Plan for Change.
'We're putting more money in the pockets of hardworking Brits and helping families with the cost of living, and we're determined to go further and faster to grow the economy and raise living standards across the UK.'
The deal is expected to result in 2,200 jobs across the country and £6 billion investment by British and Indian businesses.
Business Secretary Jonathan Reynolds said the investment will 'reach all regions and nations of the UK so working people in every community can feel the benefits.'
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