Part 8/9:
While UK Prime Minister Rishi Sunak and Indian Prime Minister Narendra Modi herald the agreement as a strategic response to global trade upheaval, the economic ramifications are deemed modest. Although tariffs on certain UK goods are set to decrease, the expected long-term boost to GDP is estimated to be marginal.
Both countries intend to enhance their trading relationship, currently valued at £42 billion ($57 billion). However, critiques arise concerning potential inequities, such as exemptions from national insurance for Indian workers, causing some political backlash in the UK.