Key Points
India-UK FTA: Keir Starmer's Labour Party is poised to end the 14-year Conservative Party rule in the UK, with Starmer set to become the next Prime Minister..
The change in government is expected to have minimal impact on India-UK relations, particularly concerning the Free Trade Agreement (FTA)..
Starmer's manifesto pledges to pursue a "new strategic partnership" with India, focusing on finalizing the FTA, marking a departure from previous Labour Party stances..
With the arrival of the Labour Party at the helm of affairs in the UK there is a possible potential shift in the dynamics of the FTA negotiations, says Dr Amit Singh, Associate Professor, Special Centre for National Security Studies, JNU, adding that the Labour Party may like to change some terms and conditions of the FTA considering their previous orientation with regard to India...
Party had criticised the Conservatives for "over-promising and under-delivering" on the UK-India FTA and declared it is "ready to go" on finalising the deal if elected.Shadow foreign secretary David Lammy said the FTA should be "a floor not a ceiling" for the partnership and aims to have it done by the end of 2024 if Labour wins the election.India and the UK have completed 13 rounds of FTA negotiations to enhance their estimated 38.1 billion annual trading relationship.Total bilateral trade between India and the UK increased to $20.36 billion in 2022-23 from $17.5 billion in 2021-22.So.
