Trade Agreements: India
The question
To ask the Secretary of State for Business and Trade, a) what progress his Department has made in implementing the UK-India Free Trade Agreement and b) what benefits it will bring to families and businesses in i) Newcastle-under-Lyme and ii) Staffordshire.
Answered by Chris Bryant
Once in place, families and businesses across Staffordshire, including in Newcastle-under-Lyme, will benefit from reduced tariffs on 92% of UK goods exports, and iconic businesses such as JCB will be able to take advantage of lower tariffs on machinery, supporting exports and local jobs.
Our analysis also indicates the deal could boost GVA in the West Midlands by around £190 million, with households poised to benefit from greater choice and lower prices, helping to ease cost of living pressures.
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