UK backs India’s security concerns, says trade deal based on trust

NEW DELHI: The landmark India-UK trade deal that came into effect Wednesday reflects real warmth and trust in the relationship along with the ability to discuss issues of importance to both sides, said UK officials. While refraining from commenting on individual cases, diplomatic sources said that the UK takes India’s concerns over national security and financial fugitives very seriously and works to address those.The remarks are reassuring for India as it expects greater geopolitical alignment with London in the wake of the game-changing Comprehensive Economic and Trade Agreement (CETA), especially over core issues like extradition of fugitives, national security and counterterrorism.

Speaking separately at a press conference, British high commissioner Lindy Cameron described the India-UK free trade agreement as the new gold standard of trade deals, calling it pro-worker, pro-innovation and pro-growth.As the 2 sides concluded the trade negotiations last year, PM Narendra Modi had stressed the significance of not allowing extremist ideologies – an allusion to Khalistan separatists active in the UK - to misuse democratic freedoms and backed ongoing efforts for extradition of economic offenders.

With the trade deal injecting new momentum in ties, both sides are also working together on a Vision 2035 roadmap to boost cooperation in areas like defence, technology, climate, education and people-to-people connectivity.Cameron said the deal is going to increase India's and the UK's GDP by nearly £ 5 billion.

“We've boosted our bilateral trading relationship, which is already of course worth £ 48 billion, by making day-to-day trade cheaper, quicker and easier for the UK and India. It will also increase financial trade by over £ 25 billion every year in the long run,” said Cameron, adding that the deal has unlocked the combined economic might of two global economic powerhouses.The high commissioner recalled UK trade minister Chris Bryant's remarks earlier in the day that the India-UK trade agreement sends a message to the rest of the world that the rules-based order works.“And I think those rules, when they are about international trade, are in everybody's interest and certainly very much in the UK and India's interest.

So, from today, our economies, our businesses and most importantly our people are going to start seeing the benefits of this trade deal,” said the high commissioner, calling the deal a force multiplier and a template for future trade agreements.“So, this deal has a net positive effect on both our economies and wages, which has remained a priority for both governments,” she added.Get the latest business news and top stories.

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