Britain is on the brink of signing a LANDMARK free trade deal with India, heralding a huge win after Brexit
- Indian commerce secretary Sunil Barthwal said it was ready to ‘finalise’ the deal
- Mr Barthwal added that almost all the most contentious issues were now settled
Britain is on the brink of signing a landmark free trade deal with India, a senior New Delhi official revealed yesterday.
Indian commerce secretary Sunil Barthwal said after years of negotiations, the two sides now want to ‘finalise the deal at the earliest’ opportunity.
Mr Barthwal added that almost all the most contentious issues were now settled – and predicted that the agreement would be signed ‘well before’ the end of this year.
A comprehensive free trade deal with India’s notoriously protectionist economy has been seen as a key prize for post-Brexit Britain.
Former prime minister Boris Johnson had pledged to sign a deal by Diwali in October last year. But talks stalled over New Delhi’s demands for more visas for Indian workers.
Britain is on the brink of signing a landmark free trade deal with India, a senior New Delhi official revealed yesterday. Pictured: Rishi Sunak (left) and Indian Prime Minister Narendra Modi (right) in 2022
READ MORE: New start after Brexit? Kemi Badenoch hails ‘huge opportunities’ as she signs deal for UK to join huge £12TRILLION Indo-Pacific trade bloc
Trade secretary Kemi Badenoch told MPs this year that any free trade deal ‘will not contain commitments on immigration or provide access to the UK domestic labour market’.
For India, a free trade deal with the UK would be its first with a developed country after it signed an interim trade pact with Australia last year. The UK is hoping for wider access for British financial services and luxury goods to one of the world’s biggest and fastest-growing markets.
Rishi Sunak has formed a strong relationship with Indian prime minister Narendra Modi since taking office last year. The two men are due to meet at the G20 summit in New Delhi in September.
A spokesman for the Department for Business and Trade declined to comment on the timetable for a deal, but added: ‘While we’ve made progress in closing chapters, we’re now focused on the high ambition areas including goods, services, and investment.
‘We are clear that we will only sign when we have a deal that is fair, balanced, and in the best interests of the British people and economy.’ A source from the department said the UK was ‘not putting any timeline’ on talks.
Trade secretary Kemi Badenoch told MPs this year that any free trade deal ‘will not contain commitments on immigration or provide access to the UK domestic labour market’
Source: Read Full Article
