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ARTICLE · 03 MAY 2023

Proposed UK-India Free Trade Agreement – Progress Update

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In May 2021, the United Kingdom and India announced an enhanced trade partnership as the first stage in negotiating a comprehensive free trade agreement ("FTA"). Following Brexit...

GlobalInternational Law
Harjeet Lall
Harjeet Lall
Paul de Bernier
Paul de Bernier
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Background

In May 20211, the United Kingdom and India announced an enhanced trade partnership as the first stage in negotiating a comprehensive free trade agreement ("FTA"). Following Brexit2, the UK has been free to negotiate FTAs with other countries. India is a key trade partner, with UK exports to India totalling £12 billion last year3 and UK-India trade valued at around £34 billion in 20224. The enhanced trade partnership has the aim of increasing this significantly by 2030 and the UK-India FTA negotiations are currently in their eighth round.

Objectives

The UK government views India as an "important partner" and that a trade deal with India provides an opportunity to "deepen economic and strategic ties". India is estimated to be the world's third largest economy by 2050 and a trade agreement could allow UK and Indian businesses to benefit from lower trade costs, boosting economic activity in both countries' areas of competitive strength. A trade deal

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