Objective:India and the UK are negotiating a trade agreement, which aims to double the trade between them by 2030. While India is UK’s sixth largest non-EU trading partner, the UK is not among the top trading partners for India. Bilateral trade is limited in few product categories and India has one of the highest tariffs in the world in certain products. Thus, there is scope to enhance market access through a carefully designed tariff rationalisation framework. Given this, the study aims to (a) understand India’s tariff sensitivities (b) concerns of Indian domestic stakeholders (c) examine the scope for tariff rationalisation, which can benefit the UK companies and (d) reciprocal market access which Indian companies need or can get. The aim is to provide inputs for the India-UK trade agreement negotiations.
Scope and Deliverables: Three reports
IV. First report is based on secondary data analysis and analysis of commitments by sectors/sub-sectors in different trade agreements;
V. Second report is based on stakeholders’ consultation
VI. A consolidated report on negotiating strategies and options
Activities: The following activitiess were conducted under the project:
• 27 stakeholders’ consultations covering 30 sectors and 700 stakeholders were held in coordination with Trade Promotion Council of India (TPCI), New Delhi and World Trade Center (WTC), Mumbai.
• Based on the consultations, discussions and meetings 3 reports (Output 1, 2 & 3) have been prepared and submitted to the client.