India-UK trade talks advance, focus on mutual benefits
On Tuesday, Prime Minister Rishi Sunak conveyed to his ministers that he would only consider entering into a trade agreement with India if it proved advantageous for the entire United Kingdom. He shared this message with his top team before embarking on his trip to the G20 summit in India later this week.
According to his spokesperson, Sunak reported that discussions regarding a free trade deal were advancing, and he remained committed to endorsing an approach that would benefit the entire UK.
India views a trade deal with Britain as crucial for its aspirations of becoming a larger exporter, while the UK, eager to expand its trade opportunities post-Brexit, stands to gain broader access for its exports, including whisky, premium automobiles and legal services.
Nevertheless, several unresolved issues remain, including intellectual property rights, rules of origin and an investment treaty.
Advocacy groups have urged Britain to refrain from proposing any provisions that could jeopardize India’s generic drugs industry and increase the cost of its products.