Right: 25 June 2024. London, UK.


King Charles III and Japan’s Emperor Naruhito ride in an open carriage during the ceremonial welcome for the Japanese state visit to Britain of the Emperor and Empress.


Picture by Ben Dance/FCDO


“ MAKING INTERNATIONAL TRADE EASIER AND HELPING MORE UK BUSINESSES EXPAND INTO INTERNATIONAL MARKETS IS CENTRAL TO GETTING GROWTH INTO THE ECONOMY.”


MARCO FORGIONE, DIRECTOR- GENERAL, INSTITUTE OF EXPORT & INTERNATIONAL TRADE IN LONDON


Meanwhile, the British are


seeking lower Indian tariffs on products like whisky and cars, as well as greater access to the Indian market for their financial and legal services. The UK think-tank, the Observer Research Foundation (ORF), commented: “Most issues have either been resolved or are in advanced stages. Yet longstanding areas of contention persist. Former (Conservative) Home Secretary Suella Braverman set back talks last year with her remarks on Indian migrants constituting the largest number of visa overstayers in the UK. A Labour government, less encumbered by the immigration rhetoric that hamstrung the Tories, offers a clearer path to resolving this issue. “On the UK’s part, it seeks a


lowering of Indian tariffs on goods such as whisky and cars, currently at almost 100–150%. Britain also wants greater access to the Indian market for its financial, legal and other services, which account for 80% of the British economy – a challenge for India amidst fears of


58


an influx of foreign competition. “An issue that has more recently


emerged for New Delhi centres around financial burdens, such as paying for national insurance despite being ineligible for UK social security benefits, placed on Indians working temporarily in the UK. Such issues highlight the broader challenge of balancing domestic policies with global trade ambitions.” Still, according to Natarajan Chandrasekaran, chairman of the Tata Group, there are reasons for optimism, saying he was “delighted” that the new UK government had moved so quickly to restart trade negotiations with India. “As one of the largest


international investors in the UK, the Tata Group supports any action that strengthens the British economy,” he said. “And as two of the world’s greatest trading nations with deep historical ties, India and the UK should be close economic partners, to the benefit of the citizens and businesses of both countries.”


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