BU’s Professor Sangeeta Khorana has given evidence to the House of Lords’ International Trade Committee on a proposed trade deal between the UK and India.
Professor Khorana, a Professor of Economics, worked as a civil servant within the Indian Government and has extensive experience with international trade, also providing evidence to the Welsh Assembly and as a member of the Expert Trade Advisory Group.
The evidence looked at the deal in detail, and the potential gains that could be made by the UK through lower tariffs and the reduction of ‘behind the border’ barriers. Sangeeta spoke about the relationship between the two countries, and their shared expertise as big exporters of services and how a Free Trade Agreement (FTA) might enable the UK to achieve a positive outcome in complementary services sectors.
Professor Khorana said, “This is an important trade deal due to its size and intended scope. The UK and India are the fifth and sixth biggest economies in the world, respectively. India represents a large market, of about 1.4 billion, and poses an important opportunity for enhanced market access for UK firms that will develop the economic relationship between strategically important bilateral trading partners. This trade deal is important given the UK is looking to establish its outward-looking global Britain image, 'unlock opportunities in the region' and supports the UK’s aim to champion for a 'bigger role in the world'".
The evidence given also highlighted the opportunities for the UK to include goals for the promotion of labour rights, labour standards and the environment.
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