India-UK trade enters final stages, Sunak to visit India? 

According to government sources, India-UK trade negotiations are reaching their “final but trickier” phases.

Trade Secretary Kemi Badenoch is going to India for a summit of G20 trade ministers this week.

India-UK trade, when will it be announced? 

There has been speculation regarding whether a trade pact may be hit before Rishi Sunak visits India in September. But the media has been told there is no anticipation in government that a complete agreement will be settled upon by then.

Government sources said they expected a contract could now be “months” away, but they emphasised there were still some “big nuts to crack”.

A trade agreement with India has long been seen in government as one of the biggest bonuses of all trades the UK could strike with other countries following Brexit.

Ex-Prime Minister Boris Johnson vowed in April last year to get the deal “done” by Diwali in the autumn of 2022 – but that deadline was missed.

The UK has been ready to complete an agreement that could get down taxes on UK exports, including cars and whisky, which presently face triple-figure taxes or import tariffs in India.

Those taxes mean UK products can have a much higher price tag in India, making them less competitive. Trade negotiations have faced some hindrances in the last year, mainly due to British ministers’ denial to give more visas to Indian workers.

The UK has been willing to get India to allow more UK City companies and service industries to set up business there.

William Bain, leader of trade policy at the British Chambers of Commerce, said this would be the “big win” for British firms – mainly UK travel, firm or financial services.

“Up to 80% of the UK economy is services-based,” he stated.