Question to the Department for Business and Trade:
To ask His Majesty's Government what assessment they have made of the potential benefits to Northern Ireland of the UK–India free trade agreement.
The UK–India Free Trade Agreement is estimated to increase bilateral trade by £25.5 billion, boost UK GDP by £4.8 billion and raise wages by £2.2 billion annually in the long term.
Northern Ireland is expected to benefit from enhanced export opportunities, job creation, and reduced costs. Advanced manufacturing will benefit from eliminated tariffs on aerospace, medical technologies and electronics products. Irish whiskey will see tariffs fall from 150% to 40% over 10 years. Northern Ireland’s services and tech sectors will benefit from improved market access.
An Impact Assessment will be published at signature, which details the benefits to Northern Ireland.