New Delhi, India welcomes Rishi SunakтАЩs Trade Minister Kemi Badenoch who is visiting India on Monday, 12 December 2022 to hold face to face talk over Free Trade Agreement (FTA) between the two countries. The negotiations were commenced in Jul 2022. However, it could not take final form because of then British Prime Minister Boris Jonson resignation. The talks commenced in the month of April 2022 and scheduled to sign agreement by Oct 22.
┬а Rishi Sunak stated that he is committed towards this deal with India and would not sacrifice quality for speed.┬а Ms Kemi will be meeting his counterpart here in India Mr Piyush Goes and address the negotiating teams before the round the ministerial talks.
IтАЩm here in New Delhi to kickstart round six of UK-India trade negotiations and meet my counterpart minister Goyal in person to drive progress on this agreementтАЭ, Kemi said in a statement. She further added тАЬboth nations have come to the table with the very highest of ambitions and a willingness to work together towards a mutually beneficial deal. It would aim to cut tariffs on goods and open opportunities for its services sectorтАЭ.
Whiskey Sector is among the other British Industries which want a lower tariff. The Indian export market for whisky was worth nearly 150 million pounds but there is a 150% tariff. In total, Britain and India have a 29 billion pound trading relationship and expanding it, is a major part of BritainтАЩs Indo-Pacific foreign policy tilt. Which aims to enhance ties with the regionтАЩs fast-growing economies. India has become the 5th largest economy of the world leaving behind the United Kingdom (UK). Trade is a fundamental driver of growth and India will be an important partner and market as the UK looks to escape stagflation. The Trade Minister Kim stated that both the countries shall be benefitted after having concluded the free trade agreement.
