India, Britain will reduce distances to pursue trade deal

India, Britain will reduce distances to pursue trade deal

New Delhi: India and Britain on Tuesday agreed to plug loopholes so that the bilateral trade agreement can be implemented at the earliest.Commerce and Industry Minister Piyush Goyal Talked with Britain’s Secretary of State for Business and Trade Peter Kyle on resolving thorny issues as India worries over steel quotas and tariffs imposed by the Keir Starmer government.“We had a very good conversation on charting the next phase of India-UK economic engagement, taking forward shared business priorities and further strengthening our strong and forward-looking partnership,” Goyal said in a social media post.Engaged in wide-ranging discussions with Ms Amanda Brooks, UK Permanent Secretary on #IndiaUKCETA implementation. Took stock of progress and action on key points, as well as explored new avenues with #ViksitIndia under #IndiaUKCETA #GlobalTrade #EconomicPartnership. Commerce Secretary Rajesh Aggarwal, in a post on Twitter, reaffirmed @UKGovScotland’s commitment to regular engagement with @TradeGov for effective implementation.Britain’s safeguard measures on steel are coming in the way of implementing a trade deal that would lower tariffs and ease access for businesses, as India wants the issue resolved. Additionally, the government is seeking a carbon border adjustment mechanism, which will come into effect from next year.

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