U.K. Parliament panel warns against rushing India FTA to meet Diwali deadline
The Hindu
The House of Commons International Agreements Committee, has questioned the Diwali deadline set for the conclusion of the U.K.-India FTA negotiations
A U.K. parliamentary panel on Friday warned the government against accepting a "poor" deal to rush things through simply to meet a Diwali deadline set for the completion of a landmark free trade agreement (FTA) with India.
The House of Commons International Agreements Committee, in a report entitled ‘UK-India free trade agreement: Scrutiny of the Government’s Negotiating Objectives’, questions the Diwali deadline set for the conclusion of the negotiations by outgoing Prime Minister Boris Johnson during his visit to India in April.
The committee cautioned that could risk giving up a good deal for a fast one, by setting a “time ambition over and above content”.
“A growing economy, as well as a growing middle class and consumer market, make India an attractive trading partner for the UK. The UK government, however, must not accept a poor agreement simply to meet a deadline,” said Baroness Dianne Hayter, chair of the committee.
“We have noted that the aspirations in the Negotiating Objectives are particularly challenging because some would require changes to India's own cultural and legal approach, which are unlikely to be achieved, or would take a long time,” she said.
“We reiterate our recommendation that the government should publish a trade policy, showing how trade links into broader foreign policy, security, defence and other domestic objectives, as well as labour, women's and human rights, and the environment. This will enable trade policy to be understood in relation to other priorities and enable us to assess the impacts and trade-offs,” she said.
The cross-party committee claims that India’s “historically protectionist policies”, different regulatory approaches and business practices would mean changes in domestic legislation, which could be a lengthy process to implement.
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