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Due to this decision of Britain, electric vehicles will become cheaper in India, there will be big concession in visa under FTA.

Image Source: AP
Electric vehicles.

With this decision of Britain, electric vehicles are expected to become cheaper in India in the coming days. Efforts have been going on for a long time to finalize the free trade agreement between India and Britain. Now it is in the final stage. India and the UK are trying to resolve issues related to visas for domestic professionals and duty concessions to British electric vehicles (EVs) in the proposed free trade agreement (FTA). With the reduction in customs duty on electric vehicles, its prices are expected to become cheaper. An official gave this information on Friday.

A team of Indian officials is currently on a visit to Britain to resolve the deadlock between the two sides on these issues related to FTA. During this, some other matters related to the service sector and reduction in customs duty on British Whiskey will also be discussed. The official said that both the countries are looking into the possibility of making a system like Tariff Rate Quota (TRQ) for electric vehicles. Under the TRQ system, import of products is allowed at concessional rates up to a specified number and beyond that, normal duty is imposed.

Demand for concession on customs export of electric vehicles

Britain demands that India should give customs duty concession on the export of its electric vehicles in the proposed trade agreement. At the same time, India is demanding liberal visa system from Britain for its service companies. “Service companies need to send their skilled professionals to Britain. In such a situation, the visa system should be convenient for them,” the official said. However, Britain has objections regarding visa. He says that the real issue behind separation from the European Union i.e. Brexit was immigration. To this the official said, “We have to align our concerns with Britain’s immigration concerns.

The point is that we would like to see our companies keep moving. So that they can perform. At the same time, Britain’s concern is that immigration should not go out of control. The round of negotiations regarding the free trade agreement between India and Britain started in January 2022. It was targeted to complete it by Diwali last year. But due to deadlock on some points, this has not happened till now. During this, several rounds of talks have taken place between the two countries. (Language)

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