As the UK celebrates Diwali, the Festival of Lights, British officials are hopeful that the occasion will bring a breakthrough in the long-awaited Free Trade Agreement (FTA) with India. The UK government is eager to seal the deal, which promises to boost bilateral trade and investment.
UK Prime Minister Rishi Sunak, in a Diwali message, expressed his commitment to strengthening ties with India. He highlighted the significance of the FTA, stating that it would create new opportunities for businesses and individuals in both countries.
The UK’s Secretary of State for International Trade, Kemi Badenoch, recently visited India to revive negotiations on the FTA. The talks had stalled due to disagreements over issues such as tariffs, intellectual property rights, and data localization.
British officials believe that the FTA would increase UK-India trade by billions of pounds, creating jobs and driving economic growth. The deal is expected to focus on sectors like technology, pharmaceuticals, and financial services.
India’s High Commissioner to the UK, Vikram Doraiswami, emphasized the importance of the FTA, stating that it would help India access the UK’s vast market and attract British investment.
The UK government has set an ambitious target to increase trade with India to £46 billion by 2030. The FTA is seen as a crucial step towards achieving this goal.
As Diwali festivities illuminate the UK, British officials are optimistic that the occasion will bring a magic moment for the India FTA deal, paving the way for a brighter economic future between the two nations.