Keir Starmer and Narendra Modi will sign a £4.8 billion trade deal, finalizing three and a half years of negotiations. This agreement will boost trade between the UK and India in sectors such as cars, whisky, clothing, and food. For the UK, it demonstrates the nation’s adaptability post-Brexit. For India, it signals an opening economy after decades of protectionism. Trust and rapport between negotiators were crucial throughout this process, highlighting that negotiations involved more than just formal procedures, emphasizing personal relationships and mutual respect.
The UK-India trade agreement is valued at £4.8 billion, concluding three and a half years of negotiations and promising economic benefits for both countries.
The deal signals to international investors that India's $3 trillion economy is opening up after years of protectionism, with an average tariff rate of 13%.
Building trust and strong relationships were pivotal in the negotiations, as exemplified by the rapport between UK Trade Secretary Jonathan Reynolds and Indian counterpart Piyush Goyal.
Negotiating with India emphasizes relationship-building, where personal rapport and mutual respect are essential for successful business dealings.
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