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Rio de Janeiro, Brazil – November 18: British Prime Minister Sir Keir Starmer (L), during a bilateral meeting with the Prime Minister of India Narendra Modi, while participating in the Museum of Modern Art on November 18, 2024, Brazil. Keir Starmer is participating in the first G20 summit for election as the Prime Minister of the United Kingdom. UK President Xi Jinping is expected to hold talks with Jinping, for the first time, a UK PM did it for six years. (Stefan Rouseau – WPA pool / Getty Images)
WPA pool | Getty Images News | Getty pictures
The United Kingdom and India, as the world’s global trade war, England, as whiskey and cars, England and cars, such as WHICH and cars, have hit a bilateral trade agreement by reducing tariffs.
The transaction of India’s import from the UK, the vast majority of Britain, the vast majority of England will gradually reduce the import of goods in the “full tariff for ten years.”
Export from Britain as a whiskey and demon, the contract will see that the tariffs are reduced from 150% to 75% before reducing 40% over ten years. Meanwhile, many car tariffs will be cut up to 10% more than 100%.
The trade agreement between India and the United Kingdom comes in an increase in trade tension on a global scale. US President Donald Trump lifted tariffs about importing the world, which strains the connections with allies and enemies.
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The British government is expected to increase by 25.5 billion TL ($ 34 billion) in the bilateral trade. The trade between the two nations in 2024 was 8.3% in 42.6 billion TL and compared to the previous year.
At the end of 2024, the UK held a trade deficit of £ 8.4 billion in goods and services. The South Asian nation was the 11th largest trading partner of the country.
The transaction is the first to be first shot under the premiere of British Prime Minister Kier Starmer.
Jonaathan Reynolds, Secretary of Johnathan Reynolds, applauds London for trade talks in India, Piyush Gyal.
Department of Business and Trade
“We agreed a significant job with India today.
“Our unions are part of our change plan to strengthen and reduce trade barriers to the world’s economy, a more powerful and more reliable economy here.”
The Prime Minister of India Narendra Modi said the deal “deepen” the connection between the two countries. “At a historic stage, India and the UK double contribution to double contribution conventions, they closed an ambitious and mutually beneficial free trade contract,” Madi said.
“These remarkable agreements will deepen our comprehensive strategic partnership, and will lead to trade, investment, growth, job and innovation in our economy,” he said.
The Indian government said that 99.1% of imports will produce all tariffs until 99.1% of the UK’s contract entry into force.
In addition, the new Delhi said that Indian employees working in the UK’s temporary Indian workers will be released from the payment of national insurance under the “double contribution convention.” There is also in the UK similar agreements With South Korea, Japan and Chile.
The deal is in trade tension with the United States. Both India and the UK, the world’s reciprocal tariffs are involved in trade talks with Washington after President Donald Trump.
“Timing, Britain’s and India will not be better by increasing economic sustainability by providing access to new markets and reduce sensitivity to foreign shocks,” said R. Murugesh, NYSE CEO LancA business transformation and service company operating in the United States, England and India.
“This is especially important in a world where the trade tension is increased,” he said.
