UK and India sign a 'landmark' trade agreement after years of tough negotiations

LONDON – Britain and India announced Tuesday that they person agreed connected a long-stalled escaped commercialized statement that volition slash tariffs connected Scotch whisky and scores of different products. The woody comes much than 3 years aft negotiations started — and stalled — nether a erstwhile British government.

Indian Prime Minister Narendra Modi said connected X that the woody was “ambitious and mutually beneficial.”

The British authorities called it a “landmark.” It said the woody volition trim Indian import taxes connected whisky, cosmetics, aesculapian goods, car and airplane parts and different goods from the U.K.

Whisky and gin tariffs volition beryllium halved from 150% to 75% earlier falling to 40% by twelvemonth 10 of the deal. Automotive tariffs volition autumn from implicit 100% to 10% nether a quota.

Britain said the woody is expected to summation bilateral commercialized by 25.5 cardinal pounds ($34 billion) a twelvemonth “in the agelong run.”

Mark Kent, main enforcement of the Scotch Whisky Association, said the woody would beryllium “transformational” for the industry. India is 1 of the world’s largest whisky markets. He said it had “the imaginable to summation Scotch Whisky exports to India by 1 cardinal pounds implicit the adjacent 5 years.”

Formal talks that began successful 2022 connected a free commercialized agreement were hailed by then-Prime Minister Boris Johnson arsenic a cardinal extremity aft Britain’s departure from the European Union successful 2020. Johnson famously promised to person a woody done by Diwali successful October of that year.

The 2 countries held 13 rounds of negotiations without a breakthrough earlier talks were suspended portion some nations held 2024 wide elections.

Modi was re-elected, and Britain replaced the Conservative authorities with 1 led by Prime Minister Keir Starmer’s Labour Party.

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