<p>Mumbai: In the backdrop of the UK-India trade deal in July, the United Kingdom’s Business and Trade Secretary Peter Kyle on Wednesday said British whisky producers have particularly benefited from the immediate reduction in tariffs.</p><p>“Whisky producers have particularly benefited from tariffs being reduced immediately from 150% to 75%, and then dropped even further to 40% over the next ten years — giving the UK an advantage over international competitors in reaching the Indian market,” said Kyle, part of the 125-member delegation to India led by British Prime Minister Keir Starmer. Starmer will hold talks with Prime Minister Narendra Modi on Thursday.</p><p>“We’ve shown there is no limit to our ambition to grow trade with India — in less than a year we’ve gone from restarting talks on a deal to bringing 125 brilliant business leaders to its commercial capital. Our deal is the best any country has ever secured with India and places British businesses at the front of the queue to access a huge and ever-growing market,” Kyle said on Wednesday, on the eve of the talks.</p>.Opportunities waiting to be seized under India-UK FTA unparalleled: UK PM Keir Starmer.<p>“Now we are hitting the ground running, using every means necessary to ready businesses to take full advantage of the massive wins we’ve secured once the deal comes into force, so we can deliver growth, jobs, and prosperity at home.”</p><p>Thanks to the deal, India’s average tariff on UK products will drop from 15% to 3% — making it easier for British companies to sell a wide range of products, from soft drinks and cosmetics to cars and medical devices, in the Indian market.</p><p>“The deal particularly benefits SMEs, as improved customs and digital commitments will make trade quicker, cheaper, and easier. In addition, bespoke support for SMEs, such as dedicated contact points, will help them enter the Indian market. A number of SMEs are travelling with the Prime Minister as they look to expand into India, hopefully creating an entire new generation of business,” the visiting minister added.</p>
<p>Mumbai: In the backdrop of the UK-India trade deal in July, the United Kingdom’s Business and Trade Secretary Peter Kyle on Wednesday said British whisky producers have particularly benefited from the immediate reduction in tariffs.</p><p>“Whisky producers have particularly benefited from tariffs being reduced immediately from 150% to 75%, and then dropped even further to 40% over the next ten years — giving the UK an advantage over international competitors in reaching the Indian market,” said Kyle, part of the 125-member delegation to India led by British Prime Minister Keir Starmer. Starmer will hold talks with Prime Minister Narendra Modi on Thursday.</p><p>“We’ve shown there is no limit to our ambition to grow trade with India — in less than a year we’ve gone from restarting talks on a deal to bringing 125 brilliant business leaders to its commercial capital. Our deal is the best any country has ever secured with India and places British businesses at the front of the queue to access a huge and ever-growing market,” Kyle said on Wednesday, on the eve of the talks.</p>.Opportunities waiting to be seized under India-UK FTA unparalleled: UK PM Keir Starmer.<p>“Now we are hitting the ground running, using every means necessary to ready businesses to take full advantage of the massive wins we’ve secured once the deal comes into force, so we can deliver growth, jobs, and prosperity at home.”</p><p>Thanks to the deal, India’s average tariff on UK products will drop from 15% to 3% — making it easier for British companies to sell a wide range of products, from soft drinks and cosmetics to cars and medical devices, in the Indian market.</p><p>“The deal particularly benefits SMEs, as improved customs and digital commitments will make trade quicker, cheaper, and easier. In addition, bespoke support for SMEs, such as dedicated contact points, will help them enter the Indian market. A number of SMEs are travelling with the Prime Minister as they look to expand into India, hopefully creating an entire new generation of business,” the visiting minister added.</p>