In a recent interview with The Times, the UK trade secretary also ruled out key similarities between India and the FTA the UK signed with Australia – one of Britain’s first post-Brexit trade deals. Did.
“We left the EU[European Union]because we didn’t believe in free movement. It’s not a deal we’re negotiating,” Badenoch told the newspaper. Reference to more visa offers.
The minister indicated he was willing to make concessions on issues such as business liquidity, but ruled out the possibility of Indians striking the same kind of deal with Australia.
The mutual UK-India Young Professionals Scheme, officially launched earlier this month, will provide 3,000 graduates between the ages of 18 and 30 with visas each year to live and work in either country for up to two years. It is seen that this hurdle has been overcome.
“We have to make sure that each trade agreement we sign is tailored to a specific country. It won’t provide the same kind of mobility that it can, India has many times the population,” Badenok said.
“And what people in the UK want to do when they travel to Australia will probably be slightly different than when they travel to India,” she told The Times. Reiterated Rishi Sunak’s approach to FTA negotiations with deadlines as “useless” and leading the government’s more flexible approach going forward.
“The mantra ‘Trade on Diwali’ is one of the things I’ve changed since becoming Secretary of Commerce. I tell people it’s about trading, not the day. Everything needs to be done. Having a fixed date allows the negotiations to take less time for the other party,” she said.
Prime Minister Johnson set the FTA’s Diwali 2022 deadline during his visit to India last April. However, amidst the great political turmoil in the UK, that deadline passed prematurely, and most ministers have since been reluctant to set a new timeframe.
“We’re thinking about getting a deal done this year. I don’t know when it will be. But if things don’t settle after a while, people will move on either side. We are very eager to sign the contract.” Badenoch.
According to official UK government data, bilateral trade between India and the UK now amounts to around £29.6 billion annually. The two sides formally launched his FTA negotiations early last year, and after the deadline for Diwali in October 2022, Sunak said he would move forward with his FTA without “sacrificing quality for speed.” I promised to work “at my pace.”