Keir Starmer's newly announced free trade deal with India marks a significant moment for the UK, especially in the context of global trade dynamics. This deal, touted as the most significant since Brexit, reduces tariffs substantially on British exports, particularly benefiting industries like whisky, cars, and various food items. While this deal secures new opportunities and serves as a reminder to the US of the UK's trading ambitions, Starmer's challenge lies in resolving ongoing trade tensions with the EU, which remain crucial for future economic stability.
The real test for Keir Starmer will be how far he can dismantle the trade friction with the UK's biggest trading partner, the EU.
The Indian president, Narendra Modi, described the deal as an historic milestone, while the UK's Labour government described it as the biggest and most economically significant bilateral trade deal the UK has done since leaving the EU.
The deal will reduce tariffs on 90% of British goods currently attracting import taxes in India, with levies on British whisky and gin slashed from 150% to 75%.
Drinks company Diageo was delighted, with its chief executive, Debra Crew, describing the deal as a huge achievement that will be transformational for Scotch and Scotland.
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