The UK has sought tariff concessions on Electric Vehicles (EVs) during the free trade agreement (FTA) negotiations with India to gain better market access in the Indian automobile market- the world’s third-largest, a government official aware of the development said on Wednesday.
This comes as London is aiming to phase out Internal combustion (IC) engines by 2035 and is aiming to boost EV exports outside beyond the European Union. Notably, access to the Indian automobile market is one of the key asks from UK negotiators as India imposes 100% tariffs on imported cars.
The India-UK FTA that was originally slated to be signed by Diwali last year continues to be negotiated due to pending issues including consensus on rules of origin and intellectual property rights (IPR).
While the talks are in the final stages with the finalisation of 21 out of the 26 chapters both countries are headed into polls and are looking to close the deal prior to the same.
Earlier, External Affairs Minister S Jaishankar met newly-appointed UK Foreign Secretary, David Cameron and stated that the free trade agreement (FTA) is very much the focus of the India-UK relationship today and India is hopeful of finding a “landing point” in the negotiations that works for both sides.
“Today to realise the Agenda 2030, we are focusing on what is officially called an Enhanced Trade Partnership, in common terms it’s called an FTA or free trade agreement. And that is today very much the focus of what the Indian and British systems are negotiating, and we hope that we will find a landing point that works for both of us,” Jaishankar had said.
