On May 6, the UK established a significant free trade agreement with India, aimed at boosting trade by £25.5 billion, potentially contributing £4.8 billion annually to the UK economy by 2040. This is the UKâs most vital trade deal post-Brexit, as highlighted by Business Secretary Jonathan Reynolds and Indian Prime Minister Narendra Modi. The agreement includes tariff reductions on British goods exported to India and provisions for exempting some Indian workers from UK social security contributions for three years.
This landmark deal will boost bilateral trade by £25.5 billion and could add £4.8 billion annually to the UK economy by 2040.
India's economy has gained prominence over the past few years, and it presents a huge opportunity for UK businesses to increase their exports to a receptive market.
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