England Under-21 international Ings will join the Reds on a free transfer next month when his current contract with Burnley runs out, as announced on the Merseyside outfit’s official website on Monday.
Ings was in good form in the recently concluded 2014-15 Premier League season and was arguably the best player for Burnley, who got relegated to the Championship.
In 35 league matches for the Clarets, the youngster scored 11 goals and created 35 chances.
The 22-year-old had a pass accuracy of 71% and a shot accuracy of 43%, and he won 25 headers, 57 dribbles and 27 tackles.
Former Liverpool defender Carragher seems happy to see the Reds sign Ings, and believes that he will replace Borini in the team.
“I think Ings will take the role of Borini in the squad & will provide more than he has, that will probably come in the Europa league & Capital one cup to start with then it will be up to him to show if he deserves to start more,” the 37-year-old wrote on Kicca.com.
Borini has been on the books of Liverpool since 2012 and has a contract until June 2017, but it does not look likely that he has a future at Anfield.
The Italy international forward played on loan for Sunderland during the 2013-14 season and struggled to feature regularly in the first team at Liverpool in 2014-15.
The 24-year-old scored one goal and created eight chances in 12 Premier League appearances, and had a pass accuracy of 76% and a shot accuracy of 38%.