UK completed majority of sections of free trade agreement with India

Despite economic and political turmoil, the UK has completed most of the sections of the much-awaited free trade agreement with India.

exports, imports, trade, FTA

ANI Europe
Despite economic and political turmoil, the UK has completed most of the sections of the much-awaited free trade agreement with India.
Trade Department Minister Greg Hands on Wednesday said that - Britain has completed the majority of sections of a free trade agreement with India but will only sign off on the deal once happy that it is fair and reciprocal.
"We have already closed the majority of chapters and look forward to the next round of talks shortly. We are working towards the best deal for both sides and won't sign until we have a deal that is fair, reciprocal and ultimately in the best interests of the British people and the UK economy," Hands told parliament.
He further questioned Labour Party whether they will ever support any UK trade deal as the party earlier had blocked such deals in past.
"Good to be back at the dispatch box today answering a Labour Urgent Question on a trade deal with India. Now a question to Labour: when will they ever support any UK trade deal? They didn't support our deals with Japan, Australia, New Zealand, Singapore or Canada!" tweeted Hands.
The government had previously said it wanted to complete the deal by Diwali, a deadline that passed earlier this week.
India and the UK who were looking to conclude the bilateral free trade agreement (FTA) pact by Diwali were shocked after the UK PM Liz Truss' resignation last Thursday.
Notably, there is interest in India and the UK to see if a Free Trade Agreement (FTA) can be reached at an early date.
Meanwhile, the new UK Prime Minister, Rishi Sunak on Wednesday said that he is confident that this government can rise to the challenge and deliver for the whole United Kingdom.
"This morning I set out to Cabinet the enormous task we face, and why I am confident that this government can rise to the challenge and deliver for the whole United Kingdom. Now is the time to get to work and earn the trust of the British people," tweeted Sunak.
Sunak on Tuesday became UK's first Indian-origin British Prime Minister after being invited by King Charles III to form a government. Sunak met the king at Buckingham Palace.
In his first address as the UK PM at 10 Downing Street, Rishi Sunak said that he will place economic stability and confidence at the heart of his government's agenda. "This will mean difficult decisions to come," Rishi Sunak said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 27 2022 | 7:25 AM IST

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