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Senior officials representing British Prime Minister Rishi Sunak’s team have landed in New Delhi this week to accelerate the ongoing negotiations for an India-UK free trade agreement (FTA), as reported by The Guardian on Saturday.
While there’s no official statement from either side confirming the visit, the government led by Prime Minister Narendra Modi is eager to finalise the FTA by the end of February, before Modi embarks on an anticipated general election campaign.
2024 marks an election year for both countries, and the signing of a trade agreement with India could fortify Sunak’s appeal to voters, especially amidst signs of discontent towards his governing Conservatives.
An official closely involved in the discussions revealed to the newspaper, “The deal is still very much on, and we believe it’s achievable before both countries head into elections. There’s a mutual eagerness to get this completed.”
The negotiations for the India-UK FTA commenced in January last year, initially aiming for a deadline of Diwali 2022, set by then-Prime Minister Boris Johnson.
With 13 rounds of negotiations since the Sunak-led Tory government is cautious about setting definite new timelines to secure an agreement that is anticipated to substantially augment the GBP 36-billion bilateral trading partnership.
A spokesperson for the Department for Business and Trade (DBT) reiterated the official UK government stance, stating, “The UK and India continue to pursue an ambitious trade deal that serves the interests of both nations. Our commitment remains to sign a fair and balanced agreement that is ultimately in the best interests of the British people and the economy.”
Recently, External Affairs Minister (EAM) S. Jaishankar confirmed that the FTA was among the agenda items during his visit to the UK last month. He expressed confidence that both parties would reach a consensus that serves their mutual interests.
“We have made substantial progress… I believe both sides recognise the significance of the FTA and will exert every effort to achieve it. Therefore, we must be patient,” Jaishankar informed reporters after meeting with Sunak and other senior Cabinet ministers.
During his November visit, the minister also discussed the FTA negotiations with UK Opposition leaders, holding meetings with Labour leader Keir Starmer and shadow foreign secretary David Lammy.
Initially, there were expectations that Sunak, a cricket enthusiast, would employ cricket diplomacy at the England versus India World Cup clash in Lucknow on October 29 to finalize the much-anticipated FTA. However, internal political upheavals within the Tory party and global tensions like the Israel-Hamas conflict reportedly diverted attention.
“We are on the brink of completion… We will finalise it in due course,” remarked UK Business and Trade Secretary Kemi Badenoch when questioned about timelines during a House of Commons committee session.
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