India and the United Kingdom concluded on Tuesday a long -date free trade pact, in a historical agreement that represents the most significant Brexit agreement of London that was ended in the shadow of the increases in the rate of US President Donald Trump.
The agreement, among the largest economies in the world, has been completed after three years of stop negotiations and aims to increase bilateral trade in another 25.5 billion pounds ($ 34 billion) in 2040 with access to the liberal market and commercial restrictions relieved.
“These historical agreements will further deepen our comprehensive strategic association and catalyze trade, investment, growth, job creation and innovation in our economies,” said Indian Prime Minister Narendra Modi in X.
The agreement reduces products such as whiskey, advanced manufacturing parts and food products such as lamb, salmon, chocolates and cookies. It also accepts quotas on both sides for automatic imports.
Both countries also seek bilateral agreements with the United States to eliminate some of the Trump tariffs that have overturned the global commercial system, and the sharp agitation sharp both in London and New Delhi on the need to ensure a commercial agreement of India in the United Kingdom.
“Now we are in a new era for trade and economy. That means going more and faster to strengthen the United Kingdom economy,” British Prime Minister Keir Starmer said.
“Strengthen our alliances and reduce commercial barriers with economies around the world is part of our change plan to offer a stronger and more safe economy here at home.”
The Indian brand pact opening its long -term markets, including cars, giving an early example for the probable approach of the South Asia Nation to treat the main Western powers such as the United States and the European Union.
Conversations on a free trade agreement between India and Great Britain were initially launched in January 2022, and became a symbol of Great Britain’s hope for its independent commercial policy after leaving the European Union.
But the negotiations were stopped, since Great Britain had four different ministers since that launch date and the elections in both countries last year.
