New UK India Industry Taskforce launched to facilitate free trade deal

A new UK India Industry Taskforce, a joint commission to increase cross-industry collaboration and push the UK-India Free Trade Agreement (FTA) over the line, was launched on Monday.

The Confederation of British Industry (CBI) and the Confederation of Indian Industry (CII) have created the new taskforce as part of a memorandum of understanding to provide a “critical forum” for discussion to ensure the FTA works to the benefit of businesses in both countries.

The joint commi ..

“I look forward to working with CII on this new commission to strengthen our ties across trade, investment, climate and health as our countries recover from the twin shock of Covid and the Ukraine crisis,” said CBI President Lord Karan Bilimoria.

“A free trade agreement with the world’s fastest growing economy is now within touching distance, and to clinch that deal a focus on lowering barriers to trade is now essential.

“For example, on renewables, we have an opportunity to export UK’s expertise in clean tech. A deal has the potential to drastically lower tariffs on wind turbines parts that are currently as high as 15 per cent,” he said.

More broadly, a deal anchored in slashing tariffs, improving the ability to mo ..

Leave a Comment

Your email address will not be published. Required fields are marked *