India and United Kingdom will speed up negotaitons for free trade agreement between the two countries as early as next month when British Prime Minister Boris Johnson will visit New Delhi as to be the chief guest in the Republic Day ceremony.
UK has made it clear that the country’s top priority is setting up a “Enhanced Trade Partnership” along with Indo-Pacific evolution, defence and security, cooperation for early recovery from Covid-19, the situation in Afghanistan, and developments in the Middle East to be focused on.
"I think that could unlock huge opportunities for British and Indian businesses, lowering barriers in areas like food and drink, healthcare and life sciences, IT, data, chemicals and financial services. I think there are some exciting possibilities ahead," said Raab. UK has been keen to strengthen trade ties with India to offset the damage from its exit from the EU.
This was conveyed by the UK foreign secretary Dominic Raab in his remarks to the media after four hours of discussions with external affairs minister S. Jaishankar on Tuesday. Raab is on a four-day visit to India – which is the second visit by a foreign minister to New Delhi after US secretary of state Mike Pompeo in October since the pandemic.
India said in a statement that to tap the full potential of bilateral trade and economic relations, both sides recognised the importance of fast tracking the discussions on a trade deal as well as concluding a "comprehensive migration and mobility partnership agreement" that can facilitate swifter movement of students and professionals in both directions.
While he described India's invite on Republic day as a great honour, Jaishankar said the development symbolised a new era in India-UK ties. UK also invited Modi to join the UK-hosted G7 summit next year.
Both countries agreed on a 10-year, 360 degree roadmap for upgrading India-UK partnership to the next level with Raab listing enhanced trade partnership next year and a future free trade agreement as the top priority.
Jaishankar was also accompanied in the meeting by the principal scientific advisor who coordinates India's Covid vaccine response. Raab said the proudest example of India-UK partnership today was on Covid-19.
"Oxford University, AstraZeneca and the Serum Institute India have been working closely together. And the Institute is now planning to produce one billion doses of the Oxford vaccine by the end of next year, many of which will be destined for low and middle income countries," he said
Raab also listed commitment to building a stronger defence and security partnership with India and cooperation on climate change as 2 other priorities in its 10-year UK-India road map.
While India has been pushing UK to come up with its own Indo-Pacific policy, the British high commission said in a statement Raab's visit marked the latest step by the UK to build closer relationships with "like-minded countries" in the Indo-Pacific region, with India a key strategic partner. Raab also reaffirmed the HMS Queen Elizabeth Carrier Strike Group will visit the Indo-Pacific region next year.
