India is no doubt becoming a leading trade hub and the volume is increasing at a good rate. The previous pace is not there though as everything is at a halt at the moment. So anyway, things seem pretty good for the trade side of the country.
But times are not going to be the same as there are a lot of things affected till now more can be effected at the end of this pandemic. Trade deals through sea and air cargo are agreements that should benefit both the parties and when one tries to gain more things do become complicated. This is what is happening between the UK and India.
The UK does want a favourable deal with India but the undue demands creating problems. Now as Britain has officially left EU the opportunities are vast for both but to get the most benefit out of a free trade agreement there has to be some compromise from the Indian side as well.
One thing that India should understand is that still it is a developing country and needs help internationally. Arrogance does not go a long way and stubbornness sure do make one lose a lot.
This will not be the first time India is going to start talks with the EU. This has happened before and the EU shits the doors before. The reason was the same undue favours which the EU could not afford to give.
Now the issue is that there is a big gap in EU after the Brexit and to fill that gap there has to be a patch. India is willing to become that but with its conditions. Only the time could tell what lies in the future but with such an attitude India could most probably fail again.
The demand for a lot of concessions on goods does not make things bright. This is the case of India having talks with the US at present and India having free trade agreement talks between EU in the past and now the UK at present.
Duties on automobiles, engineering goods, agriculture, wines and spirits and dairy products are the main things in which India wants big concessions. Issues remain almost the same for every country and these can be the same ones when India starts proper agreement talks with Britain as well.
Now there is something more interesting here in all this. India does want to have free trade but it does not want to lower down the price of its entities. Britain and the EU want India to lower down the prices of wines and spirit but the local dealers in India do not agree to it.
The reason they put forward is that in this way the foreign market could take over the local and government gets pressured to lower down the prices of local goods which will prove to be a loss for them. One way gains are not going to help out. If one country wants to get treated well internationally it has to apply the same attitude for all to get popular.