A trade deal AFTER Brexit with India could be bigger and better than a deal with the US, experts say.
Goverment is creating the attraction to try to strike a deal with New Delhi as part of the tilt towards the Indo-Pacific.
New analysis by the Resolution Foundation (RF) consultancy suggests the UK could make more money leaning towards India than the US.
Sophie Hale, an economist with RF, says a trade deal with India could bring in millions of dollars – but it’s also very risky.
“Trade liberalization with India is expected to boost UK manufacturing in the short term, but could also benefit business services, where British businesses already have competitive advantage and increased demand.
“But India is changing as well as evolving, so any trade deal would mean accepting uncertainty about the competition that will face British companies, as the price to access a rapidly expanding market.”
India It is expected to become the world’s third-largest import market by 2050 – providing huge opportunities for UK exports.
Currently, UK business services – one of our largest sectors – accounts for only a fraction of the pie, accounting for just 1.8 per cent of India’s imports.
British companies face a 19% tax when they sell goods into India.
The Resolution Fund said that if Britain quickly struck and signed a trade deal with India before the US and EU, we would have a “first competitive advantage”.
https://www.thesun.co.uk/news/17441640/india-trade-deal-bigger-america-breexit/ The post-Brexit trade deal with India could be bigger than the one with the US