“We threw everything at it to make sure that we negotiated as comprehensive a deal as we possibly could. We really wanted a great deal with India, but we also wanted it fast,” the officials were quoted as saying by ANI, while reflecting on the negotiations.
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They said one of the biggest challenges during the talks was negotiating with India’s experienced trade team, which they described as among the best they had encountered.
“One of the most challenging things is that India has a phenomenal negotiating team, and I’m really proud of the fact we also have a phenomenal negotiating team. But at times it was quite a challenge,” they said.
They also praised Goyal’s role in the negotiations, describing the discussions as an “emotional roller coaster ride”.
“The emotional roller coaster ride that Minister Goyal took us all on. He is a man who combines phenomenal political skills and amazing legal and accounting expertise with the acting skills of Shahrukh Khan. He is a phenomenal negotiator, and we are proud of the fact that our ministers did a brilliant job of negotiating with him in a way that got a brilliant deal for both sides,” the officials said.
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Trade expected to rise by over £25 billion annually
The UK said it expects the trade pact to significantly expand bilateral commerce over the coming years, even though it has not set a target for the first year after the agreement comes into force.
“We don’t have a specific target for the first year, but in the long run, we’re expecting bilateral trade to increase by over 25 billion pounds a year. So it’s really big for us, and that’s from a base where it’s worth 48 billion already,” the officials said.
They added that bilateral trade had already begun increasing ahead of the agreement’s implementation.
“We’ve already seen it grow by 4 billion pounds per year, in anticipation of this deal,” they said.
The India-UK FTA effectively reduces tariffs across a range of goods, improve market access for businesses and professionals, and deepen cooperation in trade, investment and services.
Asked about the extradition of financial fugitives wanted by Indian authorities, the officials declined to comment on specific cases but said both countries remain committed to addressing each other’s concerns through established legal processes.
“We take each other’s concerns seriously,” they said.