Any result of the ongoing negotiations for a Free Trade Agreement (FTA) between India and Britain will not be able to come till the deadline fixed by Diwali, now it is certain. Britain's Trade Secretary (Commerce Minister) Cami Bedenoch has made it clear that it is now difficult to finalize the FTA by the Diwali deadline.
The cabinet minister in charge of FTA negotiations at the Department of International Trade (DIT) during a visit to a Scotch whiskey distillery on Thursday said the deal being finalized with India will be a big win for the industry as it will see the steep The tariff is set to be reduced by up to 150 percent.
He said though the talks were going in the right direction, finalizing the agreement by Diwali (October 24) was no longer the target. In a conversation with the BBC, Badenoch said that we are close to a free trade agreement (FTA), but we are still working on the draft of the FTA. However, one thing that has changed is that we are no longer treating Diwali as the deadline for signing the FTA. Badenoch said several drafts of the agreement had been finalized. The talks are going well. But we are more focused on getting a good deal rather than expediting the deal.
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