India, UK see trade deal possibly in December after poll results
by Bloomberg Oct 27, 2023
India and the UK don’t expect a free trade agreement to be announced until after state elections in the South Asian nation are completed in December, according to people with knowledge of the matter.
There are still some differences around whether taxation will be included in a proposed investment protection pact, as well as the UK’s demand that tariffs be cut on electric vehicle exports to India, one of the people said, asking not to be identified as the deliberations are private. There isn’t any firm deadline but an announcement could be made after the vote concludes and results are out Dec. 3, another person said.
The deal, when concluded, would be a major milestone for two of the world’s largest economies that share a long history. British Prime Minister Rishi Sunak would likely showcase the deal as a benefit of Brexit, while it would help his Indian counterpart Narendra Modi tout more local manufacturing and job creation when he seeks a third term next year.
India’s Trade Ministry didn’t reply to an email seeking comment. A spokesperson for the UK Department for Business and Trade said both administrations “continue to work towards an ambitious trade deal that works for both countries.”
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
Similar Stories
NABTU Statement on Trump-Vance Inauguration
“North America’s Building Trades Unions congratulate President Donald J. Trump on his inauguration as the 47th President of the United States of America and Vice President JD Vance as the…
View Article
Alleima relaunches high-strength and corrosion-resistant steel for sustainable energy sectors
View Article
November 2024 Freight Transportation Services Index
View ArticleViet Nam hosts 16th United Nations Conference on Trade and Development In October 2025
UN Trade and Development (UNCTAD) Secretary-General Rebeca Grynspan announced today that the sixteenth session of the United Nations Conference on Trade and Development (UNCTAD 16) will take place in Viet…
View ArticleUnited States and Norway issue innovative report creating greater transparency in critical mineral supply chains
Today, the U.S. Department of Commerce and the Norwegian Ministry of Trade, Industry, and Fisheries issued a thorough, innovative report presenting our shared understanding of non-market policies and practices (NMPPs)…
View ArticleDecember CNBC/NRF retail monitor results show strong growth boosted by final Thanksgiving weekend days
Retail sales jumped strongly in December, boosted in part by two busy holiday shopping days during Thanksgiving weekend falling in the final month of the year, according to the CNBC/NRF…
View ArticleGet the most up-to-date trending news!
SubscribeIndustry updates and weekly newsletter direct to your inbox!
Follow us on social media:
