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Britain, India Clinch Landmark Deal in 'New Era' of Trade
May 08, 2025
|The Straits Times
Britain and India clinched a long-coveted free trade pact on May 6 after tariff turmoil sparked by US President Donald Trump forced the two sides to hasten efforts to increase their trade in whisky, cars, and food.
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NEW DELHI/LONDON -
The deal, between the world's fifth- and sixth-largest economies, has been concluded after three years of stop-start negotiations and aims to increase bilateral trade by a further £25.5 billion (S$44 billion) by 2040 with liberal market access and eased trade restrictions.
Indian Prime Minister Narendra Modi said the trade deal was "ambitious and mutually beneficial". British Prime Minister Keir Starmer said it would strengthen alliances and reduce trade barriers in this "new era for trade".
The deal lowers tariffs on goods such as advanced manufacturing parts and food products, and agrees to quotas on both sides for car imports.
هذه القصة من طبعة May 08, 2025 من The Straits Times.
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