India-UK FTA possible before India's general elections, but no rush: UK trade minister

UK-India tre deal: Negotiations for a tre deal between UK and India are vancing, with UK Secretary of State for Business and Tre, Kemi Benoch, suggesting that a conclusion could be reached before India's upcoming general election. However, she stressed that UK is not imposing election as a deline for finalising agreement.

Speaking at a Global Tre conference hosted by think tank Chatham House in London, Benoch highlighted challenges posed by India's protectionist economic policies in contrast to UK's more liberalised regime. She stressed importance of achieving a "commercially meaningful" pact rar than settling for a superficial agreement for political optics.

Acknowledging disparity between India's protectionism and UK's liberalisation, Benoch emphasised need for tangible benefits from agreement, citing successful FTAs with Australia and Japan as examples. Despite potential for concluding deal before India's election, Benoch cautioned against setting rigid delines that could impede negotiation process.

Negotiations between India and UK commenced in January 2022, aiming to enhance existing £36 billion bilateral tre partnership. thirteenth round of talks concluded in December last year, with both sides optimistic about reaching an agreement in ongoing fourteenth round.

Key sticking points in negotiations include UK's push for India to lower tariffs on exports such as food, automobiles, and whisky, which currently face tariffs as high as 150 per cent. India, on or hand, is seeking fairness in treatment of its workers temporarily transferred to UK on business visas.

In her dress at tre conference, Benoch emphasised importance of striking a balance between supporting import of goods from developing countries while upholding British standards of quality and safety. She underscored role of free tre agreements in diversification and resilience, particularly amid UK's Indo-Pacific pivot.

(With PTI inputs.)