Manufacturing Industries: North East
The question
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the impact of the UK-India Free Trade Agreement on manufacturing output in the North East.
Answered by Chris Bryant
A wide variety of manufacturing companies in the North East will benefit from this FTA, including those producing cars, who will benefit from tariffs reduced from over 100% to 10% under the quota, and wind turbines, whose tariff will drop from 11% to 0%.
In addition, SMEs in the North East, who account for 99.9% of all businesses, will benefit from simplified customs and digital processes, helping them to take advantage of a rapidly growing market in India.
The department has published a full impact assessment, that outlines the sectoral and regional impacts of the agreement.
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