UK and India are decades old trade partners with a lot commonality

With the passage of time, required facilities at cargo ports of India has been upgraded to transform them to complete freight forwarding facility. After these efforts, Indian refrigerated cargo exports have observed a steep increase of nineteen percent over last twelve months. These temperature controlled storage capacity helps both imports and exports of fruits and vegetables along with other products that need to be stored at a particular temperature level. It is one of the many causes behind increase in cargo activity on ports of the country.

United Kingdom is one of the major potential trade partners of India in both air and sea cargo though right now trade volume is not even near to the desirous level. But authorities on both sides are keen to give rise to it and free trade agreement is very much possible. Better roads connecting major ports with industrial zone and big markets of international products have further strengthen bilateral trade with England and other countries.

Great Britain needs to focus more on Indian markets

There is strong advice for Britain to concentrate on one of the largest consumer markets to sell goods produced in factories of the country after leaving EU in particular. According to the most recent report of UK based think tank trade ties should have been priority for the country with countries like India.

The report also emphasizes on predicted growth rates of economies so that one may steer trade relations in right direction for upcoming years. At present the figures suggest that it is under performed and if it will remain so then by 2030 this under trade would reach to ten billion GB pound with three countries including South Asian biggest population.

Future Strategy for enhanced interdependence

So it is need of the hour to work out immediate strategy for all these countries that could be markets of UK goods and services to improve Parcels to India from UK. But at first start with major countries with big populations like China and its neighboring emerging power. Free trade agreements have

Free trade agreements have symbolic importance that shows commitment of governments about facilitating trade activities. But in absence of these pacts there could be effective economic ties as UK and USA already have. There are no barriers as English is understood by most of people and legal system is largely built on identical basis.

Automobile Prices go down

There are immediate benefits for Indian buyers after Brexit process kicked off. Popular brand of cars has lowered prices of its units and fall of Britain currency against Indian rupee has also made it twenty percent cheaper for customers in the country. The imposed restrictions of the economic union took away freedom of the nation to involve in trade relations at its own terms.

But now there would be a huge difference when business community would engage in exports with other countries. Another reason behind such a research could be to find out ways to curb the impacts of leaving EU. With necessary infrastructure of international standards the country is ready to be a vibrant player of international trade.

Leave a Reply

Your email address will not be published. Required fields are marked *