Trade Secretary Liz Truss has today kicked off preparations for a trade deal with India, launching a 14-week consultation to seek the views of the public and business.
The UK wants a deal that slashes barriers to doing business and trading with India’s £2 trillion economy and market of 1.4 billion consumers. This includes removing tariffs of up to 150% on whisky and 125% on British-made cars.
Wide input from consumers and businesses across all sectors will help the UK craft a deal that includes closer cooperation in future-focused industries such as science, technology and services, creating high-value jobs across the country. Formal negotiations are expected to begin later this year.
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.
International Trade Secretary Liz Truss said:
International Trade Minister, Ranil Jayawardena said:
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.
The consultation follows the Enhanced Trade Partnership (ETP) agreed at the virtual meeting between the Prime Minister and PM Modi on May 4, where they launched a ‘2030 Roadmap’ which will provide a framework for UK-India relations.
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