Britain and India will implement their free trade agreement on July 15, following assurances from India that its concerns over the UK's forthcoming steel tariff regime have been addressed. The deal is projected to significantly boost bilateral trade and investment.
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UK-India trade deal to start July 15 after steel tariff resolution
IN SHORT
Britain and India will implement their free trade agreement on July 15, following assurances from India that its concerns over the UK's forthcoming steel tariff regime have been addressed. The deal is projected to significantly boost bilateral trade and investment.
Frequently asked questions
The trade deal will enter into force on July 15.
The deal is expected to boost the UK's GDP by £4.8 billion annually.
Tariffs on whisky will be cut from 150% to 40%, and duties on cars will be reduced from 100% to 10%.
This agreement allows skilled professionals on work visas to continue paying into their state pensions for five years without also having to pay social security contributions in the country they have moved to.
What Happens Next
01Firms will have 28 days to prepare to export to India under new provisions.
02Tariffs on whisky will be cut from 150% to 40% starting July 15.
03Tariffs on cars will be cut from 100% to 10% starting July 15.
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UK-India trade deal to start July 15 after steel tariff resolution