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Britain in no hurry for FTA with India

Post Brexit, India will have to wait a while to sign free trade agreement with Britain. Britain has flagged some high-value trade disputes involving British companies in India as a warning sign on the road ahead. British companies have not found it entirely easy to operate in India. Difficulties remain despite the India getting 53 position in the ease of doing business rankings. Instead Britain is looking forward to concluding agreements that will probably be easier and smoother to manage, such as that with Australia or New Zealand. This is despite the fact that some of the largest number of skilled professionals working and living in Britain comes from India.

The lengthy FTA negotiations between India and the European Union are seen as a learning curve for future India-UK trade ties. With India, the Department of International Trade is looking first at how to address other barriers to bilateral trade that would help build toward a future trade relationship rather than going straight for an FTA. Negotiations between the EU and India on an FTA have not yet concluded.

The UK is due to leave the EU on March 29. It voted to leave the EU nearly three years ago.