India PM Modi in UK to sign 'landmark' trade deal with Starmer
Summary
Prime Minister Narendra Modi is visiting the UK to sign a major trade agreement with Prime Minister Keir Starmer. The deal will reduce tariffs between India and the UK, increasing trade by allowing more goods to flow between the two countries. This agreement is forecasted to significantly boost their economies over time.Key Facts
- India will reduce tariffs on British goods like whisky, gin, and cars.
- The UK will import more textiles, gemstones, and other goods from India.
- The trade deal is estimated to boost the UK economy by £4.8 billion each year.
- The agreement aims to increase bilateral trade by an additional £25.5 billion per year by 2040.
- Last year, the trade between the UK and India was worth £42.6 billion.
- The deal has been approved by India's cabinet and awaits approval from the UK parliament.
- This is Modi's fourth visit to the UK since he became Prime Minister in 2014.
- The two leaders will also discuss a recent Air India plane crash in Gujarat, India.
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