Wedoany.com Report-May 7, A newly signed trade agreement between the UK and India is being hailed by exporters for its potential to significantly reduce tariffs on a wide range of goods, including British lamb. The deal, announced by the Department for Business and Trade (DBT) after three years of negotiations, is expected to slash Indian tariffs on 90% of tariff lines, with 85% of those becoming completely tariff-free within the next decade. This agreement is anticipated to open doors for UK exports, particularly in the agri-food sector, and to boost opportunities in the rapidly growing Indian market.

Tony Goodger, head of communications at the Association of Independent Meat Traders (AIMS), called the deal "excellent news," especially for lamb processors. He pointed out that the UK has a strong opportunity to tap into India's expanding middle class, offering both premium brands like Welsh PGI Lamb and Scotch PGI Lamb, as well as high-quality, assured Halal lamb for India's 200 million Muslim consumers. According to AIMS, the demand for such certified lamb products is robust among affluent urban consumers and India’s sizable Muslim population.

In addition to lamb, the trade agreement holds the potential for British meat processors to access India’s vast and growing consumer base. AIMS is also eager to clarify whether the deal could benefit other sectors, such as pork and pet food. Mr. Goodger noted that both pork and pet food currently have active export health certificates, and AIMS will be seeking clarification from DBT to see if similar tariff reductions could be applied to these products in the future.

The UK government projects that this trade agreement could contribute an additional £4.8 billion annually to the UK economy by 2040. Furthermore, bilateral trade between the two countries is expected to increase by £25.5 billion, marking a significant step forward in strengthening trade relations between the UK and India. The deal is seen as a positive development for British exporters, especially in the agricultural sector, as it lays the groundwork for enhanced access to one of the world's largest and most dynamic markets.