Govt for one-shot duty cut by UK – Times of India

UK-India Free Trade Agreement Negotiations

Introduction

The UK and India are currently engaged in negotiations for a free trade agreement (FTA) that aims to promote bilateral trade and economic cooperation. The proposed FTA includes discussions on various aspects such as tariff reduction, investment treaty liberalization, intellectual property rights (IPR), and rules of origin.

Key Negotiation Points

• Tariff Reduction: The UK is likely to provide a one-shot duty cut for Indian goods under the FTA. In return, India is expected to agree to a staggered tariff reduction for several British imports. However, there is a disagreement on the timeline for tariff reduction, with India seeking a phased approach while the UK insists on a one-time reduction.
• Investment Treaty: The liberalization of the investment treaty is a significant concern for both parties. India has been advocating for countries to sign treaties aligned with its model bilateral investment protection agreement. However, the UK and some European nations are not in favor of this approach.
• Intellectual Property Rights: The Indian government is firm on protecting its generic medicines and unwilling to make concessions in the IPR chapter. This issue remains unresolved in the negotiations.
• Rules of Origin: Discussions on rules of origin are still ongoing. Both sides are working towards establishing clear guidelines to determine the origin of goods traded between the two countries.

Negotiation Process

A team led by UK Secretary of State for Business and Trade, Kemi Badenoch, will hold discussions with India’s Commerce and Industry Minister, Piyush Goyal. This round of negotiations is expected to be the final one before the treaty is signed, potentially after the G20 leader’s summit. Tentative dates for signing the treaty are being considered during the Dussehra-Diwali period.

Emphasis on Sustainable Development Goals (SDGs)

The negotiations for the UK-India Free Trade Agreement align with the United Nations’ Sustainable Development Goals (SDGs). The SDGs aim to promote sustainable economic growth, reduce inequalities, and ensure environmental sustainability. The FTA negotiations provide an opportunity for both countries to contribute to these goals by fostering trade and investment that is socially and environmentally responsible.

Conclusion

The UK-India Free Trade Agreement negotiations have made significant progress, with most areas being sorted out. However, issues related to the investment treaty, intellectual property rights, and rules of origin remain unresolved. Both sides are working towards finding mutually beneficial solutions while considering their respective priorities. The signing of the FTA will not only enhance bilateral trade but also contribute to the achievement of the SDGs.

SDGs, Targets, and Indicators

1. Which SDGs are addressed or connected to the issues highlighted in the article?

SDG 8: Decent Work and Economic Growth

The issues highlighted in the article are related to trade agreements and economic growth between the UK and India. This aligns with SDG 8, which aims to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.

SDG 9: Industry, Innovation, and Infrastructure

The article mentions discussions about tariffs on products like Scotch and automobiles, which are related to industry and trade. This aligns with SDG 9, which aims to build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation.

SDG 17: Partnerships for the Goals

The article discusses negotiations between the UK and India for a comprehensive treaty. This aligns with SDG 17, which focuses on strengthening global partnerships for sustainable development.

2. What specific targets under those SDGs can be identified based on the article’s content?

Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries

The article mentions discussions about duty cuts for Indian goods and tariff reductions for British imports. These negotiations aim to support economic growth and trade between the two countries.

Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all

The article mentions discussions about rules of origin and intellectual property rights, which are important aspects of trade agreements that can impact the development of sustainable and resilient infrastructure.

Target 17.14: Enhance policy coherence for sustainable development

The article highlights the need for policy coherence in the negotiation of the comprehensive treaty between the UK and India. This target emphasizes the importance of aligning policies and strategies to achieve sustainable development goals.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

No specific indicators are mentioned or implied in the article that can be used to measure progress towards the identified targets. The article mainly focuses on the issues and negotiations between the UK and India, without providing specific data or metrics for measuring progress.

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: m.timesofindia.com

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