UK and India sign broad trade deal including clean energy
The UK and India have agreed a trade deal which locks in reductions on 90% of tariff lines, with 85% becoming fully tariff-free within a decade.
The deal, the culmination of extensive talks involving the fifth and sixth largest economies, is expected to increase bilateral trade by £25.5bn, and is the biggest signed by the UK since it left the EU five years ago.
Tariffs are to be cut across a range of industries including electrical machinery, circuits and conductors.
UK Business and Trade Secretary Jonathan Reynolds said striking a new trade deal with the “fastest-growing economy in the world” would unlock growth in advanced manufacturing in the north-east region, which is at the forefront of Net Zero and industrial technological development.
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