Home / World News / Indian businesses in Britain welcome EU-UK trade and cooperation agreement

Indian businesses in Britain welcome EU-UK trade and cooperation agreement

Domestic banks operating in Britain are among 5,500 with passport authorisations into Europe

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Carmakers like JLR will now be exempt from paying tariffs for up to 40 per cent of foreign parts incorporated in their vehicles, which are then re-exported to the EU

Ashis Ray London

4 min read Last Updated : Dec 26 2020 | 6:10 AM IST

A landmark Christmas Eve’s Trade and Cooperation Agreement (TCA) sealed between the 27-member states European Union and the United Kingdom (UK), which leaves the Union on Thursday, was cautiously welcomed by a cross-section of Indian businesses based in Britain.

Relief came from the largest Indian-owned entity Jaguar Land Rover, which is a part of the Tata conglomerate. Joan Chesney, spokesperson for the company, said: “Jaguar Land Rover (JLR) welcomes the news about the deal on the future UK-EU trading relationship. This provides businesses with much-needed certainty.”

According to the UK’s Guardian newspaper, carmakers like JLR will be exempt from paying

Topics : Brexit Brexit deal Indian companies European Union UK Tata Motors Jaguar Land Rover Indian business

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