New Delhi: Prime Minister Rishi Sunak has made it unequivocally clear that any trade agreement with India must be in the best interests of the entire United Kingdom. In a meeting with his ministers, Sunak emphasized the importance of striking a deal that benefits all regions of the UK, reaffirming his commitment to fair negotiations.
Sunak’s non-negotiable stance
Before heading to the G20 summit in India later this week, Prime Minister Sunak addressed his top team, highlighting the ongoing progress in negotiations for a free trade deal with India. He made it explicitly clear that he would only support an approach that works for the entirety of the UK. This message reinforces the British government’s dedication to ensuring equitable outcomes for all citizens.
Trade deal importance for both nations
A trade deal with India holds significant importance for both countries. India views a trade agreement with the UK as a crucial step toward expanding its exports. On the other hand, the UK, eager to enhance its trade prospects following its exit from the European Union, anticipates broader access for its products, including whisky, premium cars, and legal services.
Pending issues in negotiations
While progress has been made in negotiations, several key issues remain unresolved. These include matters related to intellectual property rights, rules of origin, and an investment treaty. Advocacy groups have called upon the UK not to demand any provisions that could undermine India’s generic drug industry or lead to increased costs for its products.
India’s optimism
Last month, India’s Finance Minister, Nirmala Sitharaman, expressed optimism regarding the negotiations. She indicated that India aspires to conclude talks on a free trade deal with the UK by the end of this year. Sitharaman’s statement reflects the growing anticipation of a fruitful agreement between the two nations.
Prime Minister Rishi Sunak’s unwavering commitment to a trade agreement that benefits every corner of the UK highlights the government’s dedication to inclusive economic growth. As negotiations continue, both India and the UK remain focused on securing a mutually beneficial trade deal that fosters economic cooperation and prosperity.
