World’s largest democracy to fast-track trade deal with Brexit Britain this year – 20x faster than EU

After PM’s visit, India agrees to target a trade deal with UK by October

This report has been co-published with our affiliated organisation, Brexit Facts4EU.Org.  We are most grateful for their original research into the raw data which backs what follows.

Additional Brexit Benefits: Security and defence deal agreed, 11,000 UK jobs already created

At the end of last week while ‘Partygate’ was rumbling on in the UK, Prime Minister Boris Johnson was on a pre-planned visit to India, drumming up trade and agreeing new defence and security cooperation.

This was Mr Johnson’s first visit to India as Prime Minister, after being invited by Indian Prime Minister Shri Narendra Modi.

In India’s 75th year of independence from the UK, what follows is Part One of a special series on the sub-continent’s largest player. We look at what happened last week, why it’s important, and what the future might bring – now that the UK is out of the EU.

“We’ve agreed new deals worth £1 billion, and created more than 11,000 new jobs across the UK, in everything from electric buses to the robotic surgery of Smith and Nephew which I saw yesterday as well as in artificial intelligence, where India’s strengths are remarkable.

“And perhaps most significantly for the long term, we are making full use of the freedom that we now have to reach a Free Trade Agreement.”

“So as India celebrates its 75th year of independence, I am filled with optimism about the years ahead and the depth of the friendship between our countries, and the security and prosperity that our partnership can deliver for our people for generations to come.”

– The Rt Hon Boris Johnson MP, India, 22 Apr 2022

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The EU and India – what if the UK had still been in the EU?

The EU launched negotiations for a free trade agreement (FTA) with India in June 2007 – 15 years ago. These came to a de facto standstill in 2013.

According to the latest information from the EU dated February 2022: “No date has been fixed yet for any of the negotiation tracks.” In other words, no actual achievement from the EU in 15 years.

While the UK was an EU member it was forbidden from conducting its own trade negotiations with other countries. Now all that has changed, thanks to Brexit.

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The Brexit benefit

By contrast with the EU, the UK and Indian governments started trade talks in January of this year. On Friday Boris Johnson and Indian PM Modi agreed to fast-track a trade deal to be completed by the start of the Indian holy festival of Diwali, in October 2022.

Whilst we confidently predict this will never happen in that challenging timeframe, nevertheless it is clear that both parties are enthusiastic. Four chapters of the FTA have already been agreed. Even if the deal is not agreed in nine months, it cannot possibly take longer than the 15 years the EU has taken to achieve nothing. Below we show the details of existing trade and what came out of the PM’s visit at the end of last week.

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About CIBUK: The Campaign for an Independent Britain (CIBUK) is a non-party political campaigning organisation of people from all walks of life. It is the UK’s longest-running membership organisation for freedom, democracy and independence.

Founded in 1969, for over 50 years the CIBUK has made a significant contribution in campaigning on issues important to the majority of our population and in securing our exit from the European Union. Now it’s time for the next chapter.