Marketplace Morning Report India and UK seal landmark trade deal
Jul 24, 2025
A landmark trade deal between India and the UK is underway, set to reduce tariffs on UK goods significantly. This agreement could reshape economic ties post-Brexit, although discussions on worker visas and carbon taxes remain contentious. Meanwhile, Armenia is emerging as a tech powerhouse, with innovative projects like a smart parking app and robust educational initiatives aimed at nurturing young tech talent. The ambition is to train thousands of future engineers, showcasing a bright future for the country's technology sector.
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Major India-UK Trade Deal Unveiled
- The UK and India signed a $6.5 billion trade agreement reducing India's tariffs from 15% to about 3%.
- Key sectors like whiskey, gin, automobiles, medical devices, and textiles will benefit from cheaper tariffs.
Trade Deal Omissions and Issues
- The deal does not address worker visa and student visa policies, a contentious issue in trade talks.
- Carbon tax disagreements persist, especially concerning UK's import levies on carbon-heavy goods from India.
Armenian Student Tech Innovation
- In Armenia, students develop tech projects like a smart parking app called Autohive.
- The app lets users see and reserve free parking spaces remotely, showcasing young innovation.