Post-Brexit UK-India discussions

Arun Jaitley, the Finance Minister of India, is currently in London meeting top government officials and UK business leaders.

Post-Brexit UK-India discussions

27/02/17

Sam Deave, Corporate Services Manager

Arun Jaitley, the Finance Minister of India, is currently in London meeting top government officials and UK business leaders. He has already met with UK Secretary of State for the Department of International Trade, Liam Fox, at the opening of the London Stock Exchange this morning. He will continue his meetings with both the UK Foreign Secretary, Boris Johnson, and the Chancellor of the Exchequer, Phillip Hammond, tomorrow.

There is no doubt that post-Brexit UK-India discussions will be on the cards.

UK-India relations have always been close, but government engagement has risen since the UK decided to leave the EU. A strong and positive signal was made to India when Theresa May visited New Delhi last November as her first overseas trip as Prime Minister that was not in Europe. India has also seen Boris Johnson, Liam Fox, and junior ministers, Greg Hands and Alok Sharma make the trip on separate occasions. For just an eight-month period, this high level of government engagement is a clear show of preliminary commitment.

The rolling out of the red carpet for Jaitley this week also suggests the continuation of the importance of this relationship. When asked about a future UK-India trade deal, Jaitley was quick to respond that, in line with EU law, no formal dialogues have been pursued as yet. However he was adamant that the message coming loud and clear from the UK government is that the vote for Brexit is not one of protectionism but of a more liberal, outward trading position. The number of UK outbound visits seem to be working. It is, however a long road to any certainty.