The UK and India have finalized a significant free trade deal after years of negotiations, marking a key post-Brexit agreement for the UK.
The pact, which aims to boost bilateral trade by £25.5 billion ($34 billion) by 2040, lowers tariffs on various goods like whisky, lamb, and biscuits, while also introducing quotas on auto imports.
Indian Prime Minister Narendra Modi hailed the agreement, emphasizing its role in deepening the strategic partnership and driving economic growth. British Prime Minister Keir Starmer noted that the deal will strengthen the UK's economy and open new opportunities for job creation and innovation.
This trade agreement comes as both nations navigate the impact of U.S. President Donald Trump's tariffs, which have disrupted global trade, highlighting the need for more direct bilateral deals between the UK, India, and the U.S. The deal also reflects India's move towards more open markets, including a shift on automobile imports, setting a precedent for future agreements with other Western powers.
The UK-India trade talks began in January 2022 and culminated in this deal amid changing leadership in both countries and a global focus on reshaping trade relationships post-Brexit and amidst U.S. tariff policies.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 23rd of July, covering the latest developments you need to know.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 22nd of July, covering the latest developments you need to know.
The United States has bombed Iran for an 11th consecutive night as the Pentagon says the war’s cost reach $37.5 billion. President Donald Trump threatens a heavy strike on the suspected Pickaxe Mountain nuclear site. Tehran warns that any attack could trigger a wider regional escalation.
U.S. strikes on Iran entered a 12th consecutive night, while Yemen's Houthis said they attacked two Saudi oil tankers in the Red Sea, urging President Donald Trump to warn Tehran it would be held responsible for any future Houthi attacks.
Azerbaijani President Ilham Aliyev and German President Frank-Walter Steinmeier have discussed regional developments, transport connectivity, energy cooperation and the Azerbaijan-Armenia peace process during talks in Berlin.
Channel Tunnel operator Getlink has warned that the biometric element of the European Union's new digital border security system for car passengers using the tunnel could be delayed because of software issues.
One soldier was killed and four others were injured after a UH-1Y Venom military helicopter crashed at the Czech Army's 22nd Air Base in Náměšť nad Oslavou, around 180 kilometres southeast of Prague, the Armed Forces said.
U.S. Secretary of State Marco Rubio has renewed the Trump administration's campaign against the International Criminal Court (ICC), accusing the Hague-based tribunal of threatening U.S. sovereignty and pledging further diplomatic action over its investigations.
The European Union (EU) has agreed on a 21st package of sanctions against Russia, after shelving some proposed measures to appease member states, most notably Greece.
Greece’s security council, KYSEA, is expected to give final approval on Thursday for the purchase of a multi-layered air defence system from Israel worth up to €3.5 billion ($4 billion), along with several types of drones, according to two sources who spoke to Reuters.
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