UK-India trade deal negotiations begin
NEW DELHI: The UK on Tuesday kickstarted 14-week consultation preparation for trade negotiations with India to seek views from the public and businesses.
UK Trade Secretary Liz Truss kicked off preparations for a trade deal with India. “We’re firing the starting gun on a free trade deal with India—the world’s largest democracy, fifth biggest economy, a nation of 1.4 billion people and a huge market for British goods like whisky, cars and services,” said Truss.
“We want an agreement that pushes new frontiers in industries of the future and helps us build a greener, more innovative and more services-led economy that will deliver higherpaying jobs across the country,” she added.
The deal will open new opportunities for iconic industries like whisky and boost trade in science and services, creating jobs across the country.
A British High Commission release stated that the UK wants a deal that will slash barriers on business and trading with
India’s market of 1.4 billion consumers. This includes removing tariffs of up to 150% on whisky and 125% on British-made cars.
Inputs from consumers and businesses will help the UK craft a deal that includes closer cooperation in future-focused industries such as science, technology and services and creating high-value jobs across the country, read BHC statement.
The UK also aims to make it easier for services firms to operate in the Indian market, boosting the UK’s status as an international services hub. India’s growing middle-income population and highly connected youth will be the target consumers for the type of goods and services the UK excels in, the statement added.
Before negotiations start, the UK and India must complete a pre-negotiation scoping phase a period of engagement with businesses and the public.
The public consultation, which runs to August 31, includes a questionnaire that will gather information from participants about their experiences and priorities when doing business with India, read the statement.