Historic Trade Deal Signed with India to Deliver £50 Million Boost to Northern Ireland

Strategic Insights -

New analysis shows that the landmark trade deal between the UK and India will deliver a £50m boost to the local economy in Northern Ireland. The agreement, signed by Prime Minister Narendra Modi and UK Business and Trade Secretary Jonathan Reynolds, is set to benefit various sectors, including advanced manufacturing, engineering, and medical technology. The deal is expected to unlock significant growth opportunities for Northern Ireland businesses, particularly in the whiskey and services sectors.

Key Takeaways:

  • The UK-India trade deal is expected to deliver a £50m boost to the local economy in Northern Ireland.
  • The agreement will benefit various sectors, including advanced manufacturing, engineering, and medical technology, with tariffs being eliminated or significantly reduced.
  • Irish whiskey producers will benefit from substantial cuts in duties, allowing for increased trade with India.
  • The deal will support sectors that drive the most growth for the economy, including agriculture and food, advanced manufacturing and engineering, and the services and technology sectors.
  • Northern Ireland businesses will enjoy potential savings when importing components and materials used in areas such as advanced manufacturing or luxury and consumer goods.
  • The UK is expected to benefit from an advantage over international competitors in reaching the Indian market, which is forecast to have over a quarter of a billion high-income consumers by 2050.

Statistics:

  • £50m: The expected boost to the local economy in Northern Ireland.
  • 143: The number of Northern Ireland businesses that exported a total of £65m in goods to India last year.
  • £6 billion: The overall boost in investment and export wins confirmed by UK and Indian businesses, representing a total of over 2,200 jobs.
  • 15%: India's trade-weighted average tariff, which will drop to 3% as a result of the trade deal.
  • 2050: The year when the Indian market is forecast to have over a quarter of a billion high-income consumers.
  • £50m: The estimated annual boost to UK wages, resulting in an uplift in pay for workers in Northern Ireland.

Sources:

  • "M2 PRESSWIRE-July 24, 2025-: Historic trade deal signed with India to deliver £50 million boost to Northern Ireland (C)1994-2025 M2 COMMUNICATIONS RDATE:23072025"