UK Prime Minister Sir Keir Starmer and Indian Prime Minister Narendra Modi have signed a major trade agreement that will benefit both countries economically.
The deal, which took three years to finalize, will make it cheaper for UK companies to sell things like cars and whisky to India and for Indian companies to sell products like textiles and jewellery to UK.
This new deal also includes a new joint plan to address the problems of illegal immigration, as per BBC.
While, speaking at the official signing ceremony held at the UK prime minister's country residence, Chequers, Starmer said that the trade deal with India is the largest and most economically important deal that UK has made since it exited the Brexit.
"This deal is now signed, sealed, delivered. The UK has been negotiating a deal like this for many years, but it is this government that got it done, and with it, we're sending a very powerful message that Britain is open for business, and that is already generating huge confidence," he added.
As per the outlet, this trade deal will create over 2,2000 jobs in the UK and boost the British economy by £4.8bn a year.
Meanwhile, Modi hailed what he called "a blueprint for our shared prosperity."
Modi said, "On the one hand, Indian textiles, footwear, gems and jewellery, seafood, engineering goods will get better market access in the UK..."
He further noted that Indian consumers and business will also be able to buy goods made in the UK like medical equipment and aircraft parts at affordable and attractive prices.
Now, it will likely take around a year before the trade deal officially starts being implemented.
On top of that the agreement will reduce taxes on several British goods exported to India including alcohol drinks like gin and whisky, high-tech products like aerospace parts, electronics and medical equipment, as well as cosmetics and certain food items like lamb, salmon, chocolates and biscuits.
