The UK is actively engaged in trade talks with India, emphasizing the need for India to lower tariffs on UK exports. The Department for Business and Trade (DBT) in the UK has made it clear that any free trade agreement (FTA) signed must be beneficial for the British people and economy. While formal trade negotiations were momentarily paused during India's general elections, talks have resumed in London this week as both sides work towards a mutually beneficial deal.
As discussions progress, the UK remains committed to ensuring that any trade agreement is fair, balanced, and advantageous for all parties involved. Despite not revealing specific details of the negotiations, UK officials reiterate the importance of reaching a deal that serves the best interests of the UK. Meanwhile, reports from New Delhi indicate that the Indian team has arrived in London to address the remaining issues standing in the way of an agreement.
Senior Indian officials involved in the negotiations have hinted at a potential window for finalizing the FTA after the Indian elections and before the UK general election later in the year. The aim of these negotiations, which started in January 2022, is to significantly boost bilateral trade between the UK and India, which currently stands at GBP 38.1 billion annually. However, challenges exist, with UK Secretary of State for Business and Trade Kemi Badenoch highlighting the complexity of negotiating with a country like India, known for its protectionist stance and different economic landscape.