Connect with us

Hi, what are you looking for?

News

UK Trade Delegation on Final Attempt to Secure Free Trade Deal Before Indian Elections

Credits: Reuters

The British government is making a final push to secure a free trade deal with India before the Indian general elections, but the task ahead is daunting, with significant obstacles to overcome.

Negotiators are facing challenges on several fronts, including India’s demands for more visas for Indian workers and the ability to reclaim social security payments made by Indian workers in the UK.

Visa liberalization for Indians is a contentious issue within the UK’s Conservative party, particularly among the far-right factions, making it a challenging topic for negotiations. Additionally, India’s request to exempt its workers from social security payments in the UK poses a significant financial burden for the UK treasury.

UK-India Trade Deal (Credits: Textile Value Chain)

Other sticking points include the UK’s desire for India to reduce tariffs on goods like Scotch whisky, while India is seeking lower duties on its textile exports. Furthermore, disagreements persist over the opening up of India’s protected legal and professional services to UK citizens.

The recent visit to India by Labour shadow business secretary Jonathan Reynolds has added a layer of complexity to the negotiations. India may believe that a Labour government would offer more favorable terms, particularly regarding visas and social security.

This perception could potentially impact the current negotiations, with India possibly holding out for better terms under a future Labour government. Despite these challenges, both sides are committed to reaching an agreement that benefits their respective economies.

However, the road ahead remains uncertain, with significant hurdles to overcome in the 14th round of talks. Key areas of contention include business mobility, automotive, farm products, pharmaceuticals, rules of origin, and bilateral investments.

While an FTA with India remains a priority for the UK, the negotiations are complex, and both sides are aware of the need to proceed cautiously. India, in particular, is keen to ensure that any concessions made in the deal with the UK do not set precedents for future FTAs, such as the one with the EU.

As negotiations continue, both sides are approaching the talks with caution, recognizing the long-term impact of any trade deal. The outcome of these negotiations will not only shape the future of UK-India trade relations but could also have broader implications for future trade agreements involving India.

Click to comment
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

We’re dedicated to providing you the most authenticated news. We’re working to turn our passion for the political industry into a booming online news portal.

You May Also Like

News

Spoilers! The demon Akaza from Kimetsu no Yaiba dies in the eleventh arc of the manga and the one responsible for his death is...

Entertainment

Actress Emma D’Arcy is from the British rebellion. She has only appeared in a small number of movies and TV shows. It might be...

Entertainment

Jennifer Coolidge Is Pregnant: Jennifer Coolidge Audrey Coolidge is a comedian and actress from the United States. Many of her followers are wondering if...

News

Mark Zuckerberg, in a letter to Jim Jordan, the chair of the House Judiciary Committee, disclosed that he had to remove millions of posts...