Britain and India just dropped a landmark free trade agreement 🤝 during PM Narendra Modi’s visit to the UK, promising cheaper goods, job boosts, and a major shakeup in cross-border commerce. Signed at Chequers, the British PM’s countryside retreat, the deal slashes tariffs on everything from Scottish whisky to British cars while opening doors for Indian exports.
Here’s the tea ☕:
🇮🇳 India’s tariffs on UK whisky and gin will halve (from 150% to 75%) and drop to 40% over 10 years.
🚗 UK car tariffs for India plunge from 100%+ to 10% (with quotas).
🇬🇧 99% of Indian exports to Britain will now face zero tariffs—think textiles, tech, and spices!
The UK government claims the deal will create 2,200+ jobs and pump £2.2B annually into worker wages. Sectors like aerospace and advanced manufacturing are set to thrive. Plus, Brits could see cheaper prices on everything from mangoes to sneakers! 👟
Long-term? Bilateral trade could jump 39% by 2040, adding £25.5B yearly. Talk about a power move for global trade! 🌍💸
