With the UK having a change in regime, the country is undergoing a number of changes in policies as well which may impact other countries. One such change is going to come into play for India as well as the United Kingdom under the Labour party plans to go green. The Free Trade Agreement (FTA) is a huge deal between the two countries that aims to foster better trade relationships.
Under Keir Starmer, the FTA is also going to go through some changes in policies aiming to monitor the ecological impact of the deal. Climate change is one of the big issues that the Labour party took up during the election campaign and it wants to deliver on it.
The government is aiming to decarbonize the country by 2030, accelerating the goal of achieving net zero carbon emissions by 2050. The FTA is likely to have ecological provisions under the revision of the deal.
The deal originally aimed at reducing the trade barriers and deducting tariffs to encourage more business. This is not an exciting development for India as these new green policies would be dearer to the pocket and defeat the purpose of the deal.
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