On Thursday, Britain and India began negotiating a post-Brexit trade agreement, with London wanting lower tariffs on Scotch whisky and wider access to India’s services and tech industries.
New Delhi, which has been called the “tariff king” by former US President Donald Trump for its aversion to lowering trade barriers, wants to make it simpler and cheaper for Indians to acquire British visas in exchange.
Following the inauguration of the discussions in Delhi, Commerce Minister Piyush Goyal and British Trade Secretary Anne-Marie Trevelyan issued a joint statement reiterating the goal of doubling bilateral trade volumes by 2030.
Both parties have agreed that they would focus initially on areas of mutual benefit and where there is less dispute, for which they have set a fairly ambitious timeframe of the next few months, Mr. Goyal said in an interview with media persons.
He further stated that they are optimistic that there is such a high level of complementarity between the two economies that they should be able to quickly reach a substantial agreement in the first phase.
He also said that he believes that they are dedicated to wrapping up this agreement in approximately a year.
Prime Minister Boris Johnson said in a statement that from Scotch whiskey distillers to financial services and cutting-edge renewable technologies, the UK has world-class enterprises and skills they should feel justifiably proud of.
He further added that they are grabbing chances in the Indo-emerging Pacific’s economies to solidify our place on the world stage while also delivering employment and prosperity at home.
Britain has signed trade treaties with Japan, New Zealand, and Australia in an effort to compensate for decreased trade volumes with the European Union after leaving the European Union in January 2020.
New Delhi’s attempt to make it easier for Indian citizens to get UK visas may potentially upset Brexit supporters who want to reduce immigration.