Department for International Trade
UK kick starts preparation for trade negotiations with India
14-week consultation launched to seek views from the public and businesses.
Trade Secretary Liz Truss yesterday kicked off preparations for a trade deal with India, launching a 14-week consultation to seek the views of the public and business.
The UK wants a deal that slashes barriers to doing business and trading with India’s £2 trillion economy and market of 1.4 billion consumers. This includes removing tariffs of up to 150% on whisky and 125% on British-made cars.
Wide input from consumers and businesses across all sectors will help the UK craft a deal that includes closer cooperation in future-focused industries such as science, technology and services, creating high-value jobs across the country. Formal negotiations are expected to begin later this year.
The UK also aims to make it easier for services firms to operate in the Indian market, boosting the UK’s status as an international services hub. India’s growing middle-income population and highly connected youth will be the target consumers for the type of goods and services the UK excels in.
International Trade Secretary Liz Truss yesterday said:
We’re firing the starting gun on a free trade deal with India – the world’s largest democracy, fifth biggest economy, a nation of 1.4 billion people and a huge market for British goods like whisky, cars and services.
We want an agreement that pushes new frontiers in industries of the future and helps us build a greener, more innovative and more services-led economy that will deliver higher-paying jobs across the country.
International Trade Minister, Ranil Jayawardena yesterday said:
India is one of the world’s fastest-growing economies and we share much in common, so we’re natural partners.
A trade deal will break down barriers, making it easier for British businesses to sell their wares in India – and secure more investment, better jobs, higher wages, more choice and lower prices here at home.
Before negotiations start, the UK and India must complete a pre-negotiation scoping phase – a period of engagement with businesses and the public. The public consultation, which runs to August 31, includes a questionnaire that will gather information from participants about their experiences and priorities when doing business with India.
The consultation follows the Enhanced Trade Partnership (ETP) agreed at the virtual meeting between the Prime Minister and PM Modi on May 4, where they launched a ‘2030 Roadmap’ which will provide a framework for UK-India relations.
- Trade between the UK and India was around £23bn in 2019, which both countries want to double by 2030.
- Nearly half a million jobs are supported across India and the UK through investments in each other’s economies.
- The Enhanced Trade Partnership creates immediate opportunities for British businesses in India across industries such as food and drink and life sciences by improving market access. Non-tariff barriers on fruit and medical devices will be reduced, allowing businesses to export more of their products to India.
- DIT consults widely across a network of businesses, representative bodies and trade associations, working with partners as well as members of all the Department’s Trade Advisory Groups, to seek the broadest possible range of views to inform our negotiating position ahead of launching trade talks.
Latest News from
Department for International Trade
New trade report argues UK should reject 'green protectionism' and harness free market to address climate crisis21/07/2021 11:05:00
A new report published today sets out how free and fair trade can support the low carbon transition and calls on UK to challenge green protectionism.
New UK scheme to drive trade with developing countries19/07/2021 16:22:00
The proposed new Developing Countries Trading Scheme aims to grow trade with lower income nations, supporting jobs and growth across the globe and at home.
Liz Truss's meeting with USTR Ambassador Katherine Tai16/07/2021 12:10:00
A readout of International Trade Secretary Liz Truss's meeting in Washington D.C. with United States Trade Representative, Ambassador Katherine Tai.
Liz Truss visits US to foster closer cooperation on making global trade free and fair12/07/2021 14:20:00
The Secretary of State is visiting the US to foster closer cooperation on making global trade free and fair.
United Kingdom signs free trade deal with Norway, Iceland and Liechtenstein08/07/2021 16:10:00
The deal will boost critical sectors like digital, financial, and professional business services, slash tariffs and support jobs in every corner of the UK.
Negotiations on the UK's Future Trading Relationship with New Zealand: Update01/07/2021 11:10:00
The fifth round of Free Trade Agreement negotiations with New Zealand took place between 8-16 June 2021.
UK & GCC commit to strengthening trading relationship30/06/2021 15:10:00
The UK and Gulf Cooperation Council (GCC) have completed a Review to explore new opportunities to boost their trading and investment relationship.
UK Singapore joint statement on the launch of negotiations on a Digital Economy Agreement29/06/2021 14:20:00
Joint statement from the UK and the Republic of Singapore on the launch of negotiations on a UK-Singapore Digital Economy Agreement.