Business & Investment

Is India-UK Trade Agreement Coming Soon?UK High Commissioner says the discussion is going well

Trade negotiations are complex in nature, but according to the new High Commissioner, “the two countries have complementary economies, which is one major growth area.”

With Britain’s Prime Minister Boris Johnson scheduled to visit this year, Indian and British officials are working to strengthen the proposed free trade agreement. In a conversation with the media, Alex Ellis, High Commissioner for India in the United Kingdom, said: There is a shift and desire for bilateral trade agreements with countries, including the United Kingdom. “

Trade negotiations are complex in nature, but according to the new High Commissioner, “the two countries have complementary economies, which is one major growth area.”

Why is it a trade agreement?

After Britain’s withdrawal from the European Union, New Delhi is keen on FTAs ​​with that country. why? The UK is an important trading partner and an attractive market for Indian service providers.

India may provide greater market access to Scotch whiskey from the country as part of an early harvesting program instead of the benefits of matching, reportedly.

G-7

India was invited to a G7 meeting later this summer.High Commissioner expressed hope to the Prime Minister Narendra Modi Attend it

According to government officials, it is not yet clear whether the G7 meeting will take place directly or in virtual mode.

India was also invited to the D-10 Group, which includes democratic partners Australia, South Korea and India in addition to the G7.

Cairn Conflict:

In response to the question, top British diplomats expressed their hope that there would be a swift resolution of the Cairn dispute. “It was not a secret that there was a debate between the two sides on this issue,” he said.

What is the dispute?

India lost It has exceeded retroactive taxes and India has lost an international arbitration case.

India-UK trade relations

Working towards strengthening trade partnerships later this year, the two countries already have strong and growing trade relations. As previously reported, bilateral trade between the two countries witnessed a vibrant 11 percent increase before the pandemic.

Over the last decade, bilateral trade between the two countries has steadily increased. Bilateral trade between the two countries reached US $ 15.48 billion in 2019-20.

India and the United Kingdom are also in rapid discussion on signing a comprehensive immigration and mobility partnership agreement. Once this is done and inked, it allows for faster movement in both directions for students and professionals.

education

In response to a recently announced question about the new graduate system, he said: “This new graduate system allows students to work in the UK after studying. This scheme will help many Indian students who will benefit from it.”

Both sides are also keen to strengthen cooperation in cybersecurity. Promotion of joint defense production and vaccine production.

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Is India-UK Trade Agreement Coming Soon?UK High Commissioner says the discussion is going well

https://www.financialexpress.com/economy/india-uk-trade-deal-soon-talks-on-track-says-uk-high-commissioner/2207566/ Is India-UK Trade Agreement Coming Soon?UK High Commissioner says the discussion is going well

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