NEW DELHI: The conclusion of a comprehensive free trade agreement (FTA) with India will be one of the priorities on the foreign policy front for Liz Truss, who is set to become the UK’s next prime minister after being elected leader of the Conservative Party.
Policy-makers in New Delhi will also be keeping a close watch on the stance adopted by Truss on the Ukraine crisis, given that outgoing Prime Minister Boris Johnson was one of the strongest supporters of Ukrainian President Volodymyr Zelenskyy, and on whether the new British government pushes ahead with a tilt towards the Indo-Pacific.
India and the UK are on track to conclude negotiations for a comprehensive FTA by Diwali, and the two sides have finalised 19 out of 26 chapters. Barring two chapters, the other five are a matter that can be addressed in a one-day session, two senior officials aware of the development said.
The Indian negotiating team is expected to visit London soon, but the trip could be delayed by a week or 10 days for the new British government to settle, the people said. both sides are confident to meet the Diwali deadline, which is the last week of October, the officials said, requesting anonymity.
People familiar with the matter said even if the two sides are unable to finalise all issues by Diwali, they are looking to conclude the trade agreement at the earliest. The British side has also conveyed that it is not keen on signing an interim trade pact, the people said.
Speaking about various FTAs that India is negotiating, commerce secretary BVR Subrahmanyam said on Saturday: “The UK FTA is very much on track…Our fingers are touching… The Diwali deadline is not going to be missed. Mark my words.”
One of the two officials mentioned above said out of the remaining seven chapters, two could take some more time to be tackled as they contain one or two items of interest for either side, such as automobiles.
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