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UK-India Trade Negotiations To Recommence In 2025
The UK is set to resume negotiations with India over a free trade agreement in the new year, following a break in discussions due to the recent elections in both nations, as confirmed by Prime Minister Keir Starmer’s office on Monday.
Prime Minister Starmer aims to foster a “new strategic partnership” with India, with a focus on strengthening cooperation in key areas such as security, education, technology and climate change. This comes after Starmer’s meeting with Indian Prime Minister Narendra Modi at the G20 summit in Brazil, where both leaders discussed the path forward for UK-India relations.
“A new trade agreement with India will generate significant economic benefits, supporting jobs and prosperity across the UK,” said Starmer, whose Labour Party assumed office in July.
In addition to his discussions with Prime Minister Modi, Starmer also engaged with Chinese President Xi Jinping, urging the establishment of more “consistent and durable” ties between the two countries, particularly in areas such as trade, the economy, and climate change.
With a commitment to securing the fastest sustained economic growth within the G7, Starmer is positioning the UK to leverage trade agreements with key global partners. The Organisation for Economic Co-operation and Development (OECD) has predicted that UK growth in 2025 will be the lowest among G7 nations, emphasising the importance of these international negotiations.
The previous Conservative administration had engaged in extensive trade talks with India, but these discussions stalled in March due to the Indian elections. A British official stated that finalising an agreement ahead of the Indian elections was not feasible.
Bilateral trade between the UK and India, the world’s fifth- and sixth-largest economies, was valued at £42 billion ($53.2 billion) in the 12 months leading up to June, with UK exports to India accounting for £16.6 billion.
Ahead of India’s general election earlier this year, which secured Modi a third consecutive term, there were indications that India would prioritise completing trade deals with the UK and Oman.
However, previous challenges in the negotiations have centred on issues such as India’s high import duties on British whiskey and its demand for greater visa access for Indian students and businesses.
“India remains a crucial trading partner for the UK. We are optimistic that a mutually beneficial trade agreement can be reached, benefiting both nations,” commented British Business Minister Jonathan Reynolds.
If you or your connections require legal advice, please contact Jayesh Jethwa or fill out our enquiry form below.
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Navigating and Assisting Family-Owned Businesses in Expanding to the UK Market
We regularly assist overseas companies in expanding their business in the UK and have observed that many of our APEC (Asia-Pacific Economic Cooperation) clients operate as family-owned businesses with a keen interest in the UK market. At Quastels LLP, we specialise in facilitating this transition, providing a wide range of comprehensive legal services, e.g. corporate, immigration, employment and tax planning, to ensure a seamless and successful expansion.
Why Choose The UK As Your Business Centre In Europe?
The UK is an attractive destination for APEC family-owned businesses seeking to establish a presence in Europe. Its strategic location, which offers easy access to European markets, making it an ideal hub for international operations. The UK boasts a stable political environment, a strong legal system, and a pro-business regulatory framework that fosters growth and innovation. Expanding into the UK also allows the businesses to diversify their operations geographically, reducing reliance on their home markets.
Setting Up Your UK Presence
Establishing a presence in the UK requires careful planning and expert legal guidance. At Quastels, we assist with every step of the process, starting with choosing the most suitable business structure, whether it be a branch office, subsidiary, or joint venture. We handle all aspects of company formation, from registration with Companies House to drafting Articles of Association, ensuring compliance with UK corporate governance standards. Navigating the UK’s regulatory environment can be complex, but our team is well-versed in all legal requirements including industry-specific regulations.
Relocating Overseas Core Members
When expanding a family-owned business to the UK, it is crucial to address immigration matters well in advance of the incorporation process. Properly planning the relocation of key personnel, such as overseas directors, senior members or successors, is vital for ensuring a smooth transition and successful business expansion in the UK. The choice of visa options can significantly influence the structure and operations of your business. We specialise in developing tailored immigration strategies that align with your business objectives, streamlining the relocation process.
Our expert team will guide you through the complexities of the UK’s immigration system, helping secure the most suitable visas for your core team members. Whether your needs involve Skilled Worker visas, Expansion Worker visas, or Senior or Specialist Worker visas, we will support you in obtaining the necessary sponsor licenses. Additionally, we offer comprehensive compliance training services to ensure your business remains fully compliant with UK immigration laws. Our ongoing support extends to visa renewals and compliance audits, safeguarding your business against potential legal challenges and ensuring long-term success in the UK market.
Pre-Arrival Tax Planning
When expanding your family business to the UK, effective personal tax planning is essential to optimise your financial position and ensure compliance with UK tax laws. Our law firm offers comprehensive personal tax planning services tailored to the unique needs of family-owned businesses, helping you navigate the complexities of the UK tax system as you establish and grow your presence in the country, and assist you protect your family’s wealth across generations.
Supporting Business Operations
Once your business is established in the UK, ongoing legal support is crucial to ensure smooth operations. We could provide assistance with regulatory compliance, employment law, commercial dispute resolution and sector-specific legal requirements. Additionally, we provide continuous advisory services on business expansion, mergers, and acquisitions, ensuring your business is well-positioned for growth and success in the UK market.
At Quastels, we understand the diverse cultures and business practices across the APEC region, that the family-owned business often have a long-term focus, strong family values, and a desire to preserve and grow wealth across generations. Our firm is experienced in addressing these specific concerns, ensuring that your family’s legacy is protected as you expand into new markets. By partnering with us, you gain a trusted advisor dedicated to your long-term success.
If you or your connections require legal advice, please contact Lin Li or fill out our enquiry form below.
Home Office Issued Revised Guidelines for Employers Concerning Right to Work Checks in the UK
On 21 June 2024, the Home Office issued revised guidelines for employers concerning right to work checks in the UK.
Key updates include:
EU Settlement Scheme (EUSS):
Employers are no longer required to conduct repeat right to work checks for individuals holding pre-settled status under the EU Settlement Scheme (EUSS). A single check for pre-settled and settled status holders is sufficient before employment begins.
Biometric Residence Permits (BRPS):
Employers do not need to re-check an employee’s permission until it is due to expire, even if their physical BRP card expires by 31 December 2024. The transition to digital proof of immigration status (eVisas) by the end of 2024 means BRP cards may display an expiry date of 31 December 2024, despite the holder’s permission to stay in the UK beyond that date. The expiry date of immigration permission will be visible on their online profile.
Asylum Claimants:
Employers of asylum claimants holding Application Registration Cards (ARCs) must ensure these individuals have the right to work, verified through a Positive Verification Notice (PVN) from the employer checking service (ECN). There are specific restrictions and conditions depending on when the permission to work was granted, which are detailed in the guidelines.
Compliance Requirements:
It is mandatory for all UK employers to conduct right to work checks. Failure to comply can result in penalties of up to £60,000 per illegally employed worker, loss of sponsorship privileges for migrant workers, and potential criminal convictions.
These updates aim to clarify and streamline the process for employers, ensuring they meet their legal obligations while supporting compliance with immigration rules in the UK.
If you or your connections require legal advice, please contact Jayesh Jethwa or fill out our enquiry form below.