That alone makes the trade deal agreed between India and Britain on May 6th significant—perhaps even a “landmark”, as Britain’s prime minister and his opposite number, Narendra Modi, claimed. The deal will add a useful boost to trade between the world’s fifth- and sixth-largest economies.

Britain and India announced a trade agreement Tuesday following three years of negotiations. The british government said it had "secured the best deal [to which] India has ever agreed," and will provide "businesses with security and confidence to trade with the fastest-growing economy in the G20.