Congress flags ‘serious questions’ over impact of India-UK FTA on domestic industry

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Congress flags 'serious questions' over impact of India-UK FTA on domestic industry



“Whatever the spin that will be given to the FTA by the peripatetic PM and his drumbeaters, serious questions have now emerged on the impact that this agreement will have on our domestic industry,” Ramesh said.In his departure statement, Modi said India and the United Kingdom share a comprehensive strategic partnership that has witnessed significant progress in recent years.He noted that the collaboration between the two countries spans a wide range of sectors, including trade, investment, technology, innovation, defence, education, research, sustainability, health and people-to-people ties.”During my meeting with Prime Minister Rt Hon Sir Keir Starmer, we will have the opportunity to further enhance our economic partnership, aimed at fostering prosperity, growth and job creation in both countries,” Modi said.The prime minister will also meet King Charles III during the visit.Commerce Minister Piyush Goyal and his British counterpart Jonathan Reynolds are likely to sign the FTA in the presence of the two prime ministers.In May, India and the UK sealed the FTA that is expected to benefit 99 per cent of Indian exports from tariffs and will make it easier for British firms to export whisky, cars and other products to India besides boosting the overall trade basket.The trade deal, firmed up after three years of negotiations, is expected to ensure comprehensive market access for Indian goods across all sectors and India will gain from tariff elimination on about 99 per cent of tariff lines (product categories) covering almost 100 per cent of the trade values, according to officials.Modi will then travel to the Maldives at the invitation of President Mohamed Muizzu.



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