LONDON: UK International Trade Secretary Anne-Marie Trevelly is expected to travel to New Delhi this month to begin negotiations on the free trade agreement in India where it is expected to open talks with a generous offer for Indians.
The easing of immigration rules for Indian citizens traveling to England has long been a new request of New Delhi, and with acute labor shortages in the UK, especially doctors and nurses, now offering a win-win situation for the UK who at the same time want to get access to the market Profitable India.
The Times of London reported Saturday that Britain is now ready to offer a generous agreement on the visa to secure a trade agreement, citing the British government sources.
Commenting on this, an Indian senior diplomat in London said: “Nothing is unexpected in the news”.
Other sources told TOI that the free trade agreement (FTA) was expected to be announced this year by the UK PM Boris Johnson when in India and before EU-India FTA was agreed.
Relaxation can include lower visa costs for students and tourists, visas for young Indians to work and travel in the UK, a longer graduate route visa and visa-online for certain Indians.
The benefits of the British-India trade agreement to England will be reduced by tariffs in various items, providing British producers of more affordable access to the important Indian market.
Post-Brexit England is pursuing FTA.
India is the opposite less likely to sign preferential trade offers as seen by Indian withdrawals from the regional comprehensive economic partnership (RCEP) and stagnation of eight years of UE-India negotiations.
India wants to protect its economy from foreign competitors and maximize domestic production.
Analysis by the Department of England International Commerce (DIT) shows trade agreements with India will improve the economy of all the British regions, because they already have substantial bonds in India and stand to benefit from Indian economic growth.
India currently requires large import rates up to 150% in some of the most important export of Britain, such as cars and whiskey.
The FTA who eliminates or reduces this tax will make English goods more competitive in the Indian market.
The trade agreement will also provide an opportunity to deepen cooperation between the services sectors of each country.
A spokesman Dit said: “India is projected to become the third largest economy in the world in 2050 and a free trade agreement will open great opportunities for British businesses to trade with the Indian economy £ 2.25 trillion.” Kevin McCole, the Managing Director of the UKIBC, said: “From a vast UKIBC consultation, it is clear that businesses in both countries, in all sectors, have high hopes for FTA negotiations.
Businesses want to see tariff reductions, plus standard alignment and IP rules and data protection for Realizing the full potential of Indian-English partnerships, especially in the innovative sector, Intensive R & D which will encourage partnerships in the coming years.
Business is also interested in a while, or early.
Harvest agreement.
“Pratik Dattani, MD Consultant entered the EPG market, said : “The British government seems to have signified to offer many of what India wants, without Indian signaling will provide a lot of rewards.
UK requires a large post-brexit agreement, so the stakes are higher for England than India.” Lord Karan Bilimoria, President of the British Industry Confederation , said he was “happy with the prospect of FTA talks with India starting with a wait H-Really this year “.
Exporting and developing international income needs to be a priority for the UK, he said.