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There is no doubt that India and the UK share a long trade history with good and bad experiences. But now the scenario has changed giving birth to independent status to both the countries. For India, it happened in 1947 and for UK trade side the freedom occurred in 2020 with the final exit from the EU bloc.
So now what happens is that the UK has acquired free hand to decide what is going to happen to its trade through sea and Air Cargo services. The UK had already worked the plan well to sign trade agreements with the trading countries around the world. India is an important trade destination and there is no stone unturned to get the best out of the relationship.
The final draft can be achieved but mutual agreement and flexibility can make a big difference. Both the countries are contributing a lot in each other’s economy and there is going to be a really good impact on this mutual impact.
Agreements can still be discussed with the third parties but the official draft can only be signed after the end of the transition period till 31st December. Within this period the EU and UK also have to get an agreement signed to keep thins cheap while trading.
The possible barriers that really disturb a smooth flow of goods across borders. So in order to remove these, there are three bilateral working groups to tackle the issues. The barriers are related to food and drink, healthcare and data services.
These three business groups are run by UK India Business Council together with Confederation of Indian Industry and Federation of Indian Chamber of Commerce and Industry. So all these authorities play an important role to keep the business going at a stable pace. These measures are taken to keep things under control when there is some instability after the transition period ends.
Whatever is happening in India is not an issue to be ignored. May be due to this flexibility is now there in the behaviour of the government of India. Indian officials were seen as encouraging and conveying the positive vibes for a good deal. In the Boris Johnson cabinet now have Indian citizens as members.
They know and understand the importance of relationships for both countries. These are not just some common people. They are related to some very well-known and important areas which have been established to support the mutual trade.
When a country is dependent on its economy and business in another country compromises are many. But not now for India as it has achieved a status where its words matter. This is the 5th fast-growing economy at the moment despite all the unrest inside its boundaries.
The agreement whenever it takes place will be on equal terms and the agenda of the country is as important as any other thing. So India can do deals with every bit of importance and terms that suit its terms and conditions and not what pleases others.
