UK seems to be getting ready for a trade deal-signing spree as it looks to a future beyond EU. In a freewheeling interaction with The Dollar Business, Kevin McCole, COO, UK India Business Council (UKIBC), explains why a comprehensive UK-India bilateral economic agreement must not wait for the Brexit dust to settle.
TDB: In a post-Brexit world, how is UK India Business Council realigning strategies to promote UK-India trade?
Kevin McCole (KM): We will be working with our members to coordinate the dialogue between the governments and the Joint Working Group set up by UK International Trade Secretary Liam Fox and Indian Commerce Minister Nirmala Sitharaman. When the time comes to begin talks, we will be encouraging both governments to prioritise bringing down both tariffand non-tariffbarriers through a Comprehensive Economic Partnership Agreement (CEPA). In terms of tariffbarriers, if duty on alcohol is brought down, it would be of great benefit. Non-tariffbarriers are also an issue, and efforts to improve the business environment by Prime Minister Modi’s government are very welcome but must go further to ensure a future CEPA is successful. Any agreement should be forward-looking and take into consideration the economic drivers of the future.
There is a rising interest and demand for UK goods, services, technology and know-how to help achieve the goals set out in programmes such as ‘Make in India’, ‘Digital India’, ‘Skill India’ and ‘Swachh Bharat’. And there are several areas where more bilateral trade and investment can bring near-term benefits to both countries. Time waits for no one and it is important that companies do not wait for the Brexit dust to settle. For a comprehensive bilateral economic agreement, the opportunity is now!
TDB: Has British Prime Minister Theresa May’s visit to India made any difference to India-UK relationship?
هذه القصة مأخوذة من طبعة May 2017 من The Dollar Business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة May 2017 من The Dollar Business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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