UK-India Business Commission

May 12, 2022

Recently, the Confederation of Indian Industry (CII) and the Confederation of British Industry (CBI) inked a pact to establish the UK-India Business Commission.

What are the objectives of the UK-India Business Commission?

To increase collaboration among industries of the United Kingdom (UK) and India.
To advocate the removal of the barriers to bilateral trade and reduce tariffs.
To push for the early conclusion of the UK-India free trade agreement (FTA).

What will be the function of the UK-India Business Commission?

The UK-India Business Commission provides a platform to discuss ways to ensure that the UK-India free trade agreement (FTA) works to the advantage of industries and businesses in both the UK and India.

The UK-India Business Commission will also provide ground-level business intelligence to both the United Kingdom (UK) and India at the ministerial level. It will also help in addressing the common concerns and identifying the mutual interests of both countries.

What is the Confederation of Indian Industry (CII)?

It is a non-governmental trade association, registered under Societies Registration Act, 1860. It was established in 1895 and is headquartered in New Delhi. It is a membership-based organization and engages leaders from various areas.

What is the Confederation of British Industry (CBI)?

It is a non-profit business organization based in the United Kingdom (UK). It was formed in 1965 and is one of the largest business organizations. It promotes the interests of the businesses through methods like lobbying the governments, providing business intelligence, etc. both in the United Kingdom (UK) and at the international level. The CBI also has an office in New Delhi, India.

When is the UK-India free trade agreement (FTA) expected to conclude?

At a recent meeting in New Delhi between Prime Ministers of the United Kingdom (UK) and India, it was decided that Diwali will be the deadline for the completion of a draft agreement between both the countries.

How many rounds of negotiations have been held till now for FTA?

Three rounds of negotiations for the UK-India free trade agreement (FTA) have been held till now, with the third round of negotiations held last week in New Delhi, India.

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