On 4 May 2021, the Indian and UK prime ministers agreed an enhanced trade partnership and announced their intention to negotiate a comprehensive free trade agreement. They also agreed to continue removing trade barriers and have set an ambitious target of more than doubling India–UK trade by 2030, including a potential interim trade agreement to deliver an “early harvest.” On 25 May 2021, the UK Department for International Trade announced a 14-week public consultation on the UK’s current trading arrangements with India, inviting suggestions for areas where changes or improvements could be made, to assist in finalizing its list of offers and requests to its Indian counterparts.
For further analysis, see India-UK free trade agreement: The time has come.
Source Deloitte
Latest Posts in "India"
- India to Impose New Health and Security Tax on Tobacco Machinery, Amend GST Compensation Levy
- Punjab Trade, Tax Bodies Threaten Statewide Stir Over Delayed VAT, GST Refunds
- Briefing Document & Podcast: E-Invoicing and E-Reporting in India
- Meghalaya Extends VAT Exemption on Fruit Wine to 10 Years, Boosting Local Wine Industry
- Allahabad HC: Arbitrary GST Registration Cancellations Without Reasons Amount to ‘Economic Death’ for Businesses
