After years of negotiations, the landmark UK-India trade deal has been finalised.
For our industry, we welcome the reduction of tariffs and rules of origin on medical devices, making it easier for BIVDA members to export to India, and access to billions of pounds worth of tenders for UK companies.
Indian tariffs will now be slashed across the board, locking in reductions on 90% of tariff lines, with 85% of these becoming fully tariff-free within a decade. The deal is expected to increase bilateral trade by £25.5 billion, UK GDP by £4.8 billion and wages by £2.2 billion each year in the long run.
We will ensure to keep members aware of any of the finer details or new opportunities announced by DBT.
