British Prime Minister Keir Starmer welcomed the newly completed free trade agreement with India as a “fantastic” success. He also focused on the opposition Conservative Party and criticized them for proposing to “tear” the agreement, PTI reported.
Here are the five best updates:
1. When he spoke to the Prime Minister (PMQ) in the Chamber of Deputies during the weekly meeting, Starmer emphasized the success of the Labor Government in FTA interviews with India last week – something that the Conservatives could not have in power during their eight years.
2. As stated by PTI, Starmer locked corners with the opposition leader Kemi Badenoch over the employment and business record of Laboristics. “The Indian agreement is a fantastic agreement, with car tariffs to reduce to 10 percent, the tariffs are half of the whiskey and gin and 4.8 billion GBPs come to our economy.
3. According to the British Ministry of Business and Trade (DBT), the agreed FTA agreed on 6 May will add another 25.5 billion GBP to the current two -way trade of 41 billion GBP. He emphasized the scottish whiskey tariffs, 150 percent to half, and eventually even lower to 40 percent and car quotas among major wins for British business.
4. India has provided access to the zero service market for all industrial goods after the free trade agreement. This includes industries such as leather, shoes, textiles and clothing, gems and jewelry, basic metals, furniture, sports equipment, car and traffic components, chemicals, wood and paper products, mechanical and electric machines and minerals. Currently, these products face tariffs in the UK between 4% and 16%.
5. Some sensitive agricultural products – including milk, apples, cheeses, oats and animal and vegetable oils – are excluded from the agreement, which means that India does not offer any concessions to these items. Similarly, several sensitive industrial products such as plastics, diamonds, silver, basic stations, smartphones, TV camera tubes, optical fibers and related cables are excluded from the reduction of tariffs.
(With the entry from agencies)
(Tagstotranslate) UK India
