The India-UK free trade agreement (FTA), one of the topmost priorities for the Indian bureaucracy at work, was ready for sign-off at Diwali. However; the definitive plans were derailed by the sudden resignation of the then UK Prime Minister, Liz Truss. All eyes are now tensely focused on whether her successor, Rishi Sunak, the first Indian-origin prime minister of the UK, will bring fresh energy to the India-UK FTA, which has been stalled by the change in UK’s leadership.
The positive sentiment and zeal around the India-UK FTA are as ambitious as is the commitment to double bilateral trade by 2030. It is worth noting the exciting watch-and-chase between the respective governments on the preferred personal stance on aspects such as the Ukraine crisis, given that the outgoing PM Boris Johnson was a strong supporter of the Ukrainian President, Volodymyr Zelensky.
Similarly, the New Delhi corridors have been closely monitoring how the new British government pushes forward in respect of the Indo-Pacific region.
Please refer to the below document to read the full article by Sidharrth Shankar, published in Indian Express.
Sidharrth is the Co-Chair of the Corporate Practice at JSA. He specializes in General Corporate Commercial, Mergers & Acquisitions and Private Equity.