The planned free trade agreement (FTA) between India and the UK is being discussed. Piyush Goyal, minister of commerce and industry, indicated that we must “wait and watch” who forms the government in the UK. He added that it is only after a change of guard is affected in the UK that India can decide its policy.
Goyal added that we will have to wait and see what transpires if they quickly replace the leadership and whether it affects the entire process. Therefore, let’s see who joins the government and what their perspectives are. Only then will we be able to develop a plan of action for the UK.
He added that the FTA with India should be fair, equitable, and balanced and that politicians and business leaders from all sectors in the UK have acknowledged its importance. The Union Minister was speaking in Delhi at the national export summit of the Confederation of Indian Industry.
Approximately six weeks after taking office, UK Prime Minister Liz Truss announced her resignation. “I recognise [that] given the situation, I cannot deliver the mandate on which I was elected,” Truss stated in her resignation statement. I have talked with HM King to inform him of my resignation as Conservative Party leader. “
She will continue to be in charge until either a general election or the Conservative Party chooses her replacement. Due to previous foreign secretary Suella Braverman’s remarks regarding rising immigration to the UK, which had a negative impact on the India-UK FTA negotiations, Truss’ government received a great deal of criticism.
“Look at migration in this nation—the greatest group of people who overstay are migrants from India,” Braverman told the monthly magazine “The Spectator.” She continued, “The Indian government and we even came to an agreement last year to promote and enable improved cooperation in this area. It has really not worked well.
Truss was also criticised for her economic policies, which included tax cuts. Following Truss’ resignation announcement, the British pound sterling moved down in early trade and fell 0.1% to $1.125.
