London: Senior officials from British Prime Minister Rishi Sunak’s team are in New Delhi this week to add momentum behind the ongoing round of negotiations for an India-UK free trade agreement (FTA), according to a UK media report on Saturday, December 9.
The Guardian’s newspaper reports that while there is no official comment from either side on such a visit. The Prime Minister Narendra Modi-led government is keen to finalize the FTA by the end of February. That is before Sunak sets off on an expected general election campaign trail.
Both countries are heading into an election year in 2024 and signing off on a trade agreement with India will bolster Sunak’s electoral pitch by showing voters signs of anti-incumbency towards his governing Conservatives.
“The deal is still very much on, and we think it is possible before both countries have their elections. Both sides are keen to get this done,” an official close to the talks told the newspaper.
The India-UK FTA talks began in January last year with Diwali 2022 set as the initial deadline by then-Prime Minister Boris Johnson.
There have been 13 rounds of negotiations since then. With the Sunak-led Tory government wary of setting any firm new timelines to clinch a deal. Which is expected to significantly enhance the GBP 36 billion bilateral trading partnership.
“The UK and India continue to work towards an ambitious trade deal that works for both countries. We have always been clear that we will only sign a deal that is fair, balanced, and ultimately in the best interests of the British people and the economy,” said a spokesperson for the Department for Business and Trade (DBT), reiterating the official UK government line.
Most recently, External Affairs Minister (EAM) S. Jaishankar confirmed that the FTA was among the many topics on the agenda during his visit to the UK last month. He expressed confidence that both sides would find a “landing point that works for both of us.”
“We have made substantial progress… I think both sides are very aware of the importance of the FTA. We will make the utmost effort to get there. So, we have to take it as it happens,” Jaishankar told reporters. It was after he met with Sunak and other senior Cabinet ministers.
The minister also discussed the FTA negotiations with UK opposition leaders in meetings with Labour leader Keir Starmer and shadow foreign secretary David Lammy during his November visit.
There had been some speculation that cricket enthusiast Sunak would be following up his first India visit as UK prime minister for the G20 Summit in September with some cricket diplomacy at the England versus India World Cup clash in Lucknow on October 29, when the highly anticipated FTA could be signed off.
However, the internal political turmoil of a Cabinet reshuffle within the Tory party and the Israel-Hamas conflict on the global front were said to have sidetracked focus.
“We are very close. We will finish when we finish,” UK Business and Trade Secretary Kemi Badenoch told a House of Commons committee when questioned about timelines recently.
Meanwhile, her Indian counterpart, Union Minister for Commerce and Industry Piyush Goyal, has indicated that nearly 20 of the 26 chapters have been closed.
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