NewsGate Press Network

By Vineet Dikshit

Come Diwali time this year, there is a likelihood that British made scotch whisky ‘Red Label’ will be become cheaper along with basket full of items of trade and commerce and more visas to travel between India and England.

Scotch whisky is just an excuse but lower tariff along with jump in trade and commerce between India and the UK were underlining base points after agreements were made when prime minister Narendra Modi met his British counterpart Mr Boris Johnson on Friday the 22nd of April 2022 here in Delhi.

It was announced that a path breaking Free Trade Agreement (FTA) is on the way. And all formalities with this regard will be completed by the end of 2022.

Boris Johnson was in India for two days on 21-22 April – his first visit as prime  minister of United Kingdom.

England is going to be the third country with whom Indian FTA has happened following Australia and the UAE. The FTA between India and UK would pave the way for doubling of bilateral trade by 2030.

After both leader met along with their delegations at the Hyderabad House, a joint press conference was held where formal announcement regarding free trade agreement was made.

“We had launched an ambitious Roadmap 2030 to give direction to our relationship in this decade. In our conversation today, we reviewed the progress made in this roadmap, and set some targets for the times to come.

“Teams of both countries are working on the Free Trade Agreement and good progress has been made in the negotiations. We have decided to conclude the FTA by the end of this year,” said Modi.

The Prime Minister said that in the last few months, India has concluded FTAs with the UAE and Australia.

“At the same pace, with the same commitment, we would like to move forward on the FTA with the UK as well,” he said.

Johnson said: “We are telling our negotiators to get the FTA done by Diwali.”

“We have also agreed to enhance cooperation in the defence sector. We welcome the UK’s support for ‘Self-reliant India’ in all areas, including manufacturing, technology, design and development in the defense sector,” Boris Johnson added.

Russia’s war on Ukraine also featured in the talks between the two prime ministers.

The two leaders called for an immediate ceasefire and a return to dialogue and diplomacy to resolve the problem. “We also reiterated the importance of respect for the territorial integrity and sovereignty

Both leaders agreed to transform defence and security cooperation as a key element of India-UK Comprehensive Strategic Partnership and discussed opportunities for defence collaboration including on co-development and co-production for meeting the needs of Armed Forces of both the countries.

BBC was reporting on its website that ‘the Scotch Whisky Association has urged an “early harvest deal” calling for whisky tariffs to be dropped ahead of a full deal, before Diwali day this year.