Scotch Whisky Industry Set to Flourish as UK PM Starmer Makes Official India Visit to Implement Landmark Trade Deal
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British Prime Minister Keir Starmer commences a two-day visit to India on Wednesday with Scotch whisky industry highlighted as a "big winner" of the India-UK Free Trade Agreement (FTA), which the UK government projects will boost the Scottish economy by 190 million pounds annually.
Downing Street announced that Scotch Whisky Association members and producers are joining Starmer's trade delegation to explore potential whisky sales increases to India, estimated at 1 billion pounds yearly, creating over 1,000 new UK jobs.
According to UK officials, Starmer's inaugural visit to India as Prime Minister will include significant meetings with senior Indian government ministers and businesses to strengthen bilateral trade and diplomatic relationships benefiting all regions of the United Kingdom.
"The historic trade deal the UK government negotiated with India this year delivers tremendous benefits for Scotland, particularly our whisky industry; having secured the agreement, our current challenge is implementing it effectively," stated Douglas Alexander, UK Secretary of State for Scotland.
"By leading this trade mission, the Prime Minister will champion Scotland's premium products. With the UK government's backing and support, they can access global export markets," the minister added.
Scotch whisky is among the products expected to see substantial reductions in Indian import tariffs once the FTA, known as the India-UK Comprehensive Economic and Trade Agreement (CETA), completes British Parliament ratification next year.
"Achieving liberalized tariffs on all our exports to India will unlock access to the world's largest whisky market and provide Indian consumers with greater choice," said Mark Kent, Chief Executive at the Scotch Whisky Association.
"This agreement demonstrates excellent government-industry collaboration creating long-term strategic opportunities, and we hope to similarly partner with the government to navigate immediate industry challenges," he continued.
The UK government emphasizes that the benefits of the "landmark" CETA agreement reached during Prime Minister Narendra Modi's UK visit in July will stimulate economic growth across the country, enhancing export opportunities for other iconic Scottish products including shortbread and the popular fizzy drink Irn Bru.
"This deal with India could be transformative for the industry over the long term. During this trade mission, we aim to fully leverage the opportunities this crucial trade agreement brings to Scotland," added Douglas Alexander, who served as Trade Minister when the FTA was finalized two months ago.
Business and Trade Secretary Peter Kyle and Investment Minister Lord Jason Stockwood are accompanying Starmer's delegation to India, focusing on implementing the CETA. British government analysis indicates the agreement will increase bilateral trade by 25.5 billion pounds, raise UK GDP by 4.8 billion pounds, and enhance wages by 2.2 billion pounds annually in the long run.
Source: https://www.ndtv.com/india-news/uk-prime-minister-keir-starmer-india-visit-scotch-whisky-in-spotlight-as-uk-pm-keir-starmer-begins-india-visit-9414908