India and the UK don’t expect a free trade agreement to be announced until after state elections in the South Asian nation are completed in December, according to people with knowledge of the matter.
There are still some differences around whether taxation will be included in a proposed investment protection pact, as well as the UK’s demand that tariffs be cut on electric vehicle exports to India, one of the people said, asking not to be identified as the deliberations are private. There isn’t any firm deadline but an announcement could be made after the vote concludes and results are out Dec. 3, another person said.
India’s Trade Ministry didn’t reply to an email seeking comment. A spokesperson for the UK Department for Business and Trade said both administrations “continue to work towards an ambitious trade deal that works for both countries.”