India trade deal could undercut UK business, opposition parties say

Opposition parties in the UK have voiced concerns over a new trade deal with India, highlighting potential drawbacks for domestic businesses. The deal, which aims to bolster economic ties between the two nations, includes provisions for tax breaks for Indian professionals. Critics argue that this could place UK businesses at a disadvantage by creating an uneven playing field in the professional services sector. The agreement, intended to facilitate smoother trade and investment flows, has sparked a debate over its long-term implications. Supporters claim it could open up significant opportunities for UK firms in India's burgeoning market. However, opponents worry that the tax incentives provided to Indian professionals might lead to increased competition for UK workers, potentially impacting job security and wage levels. Government officials maintain that the trade deal is a strategic move to strengthen bilateral relations and drive economic growth. They argue that the benefits, including increased access to India's vast consumer base, outweigh the potential downsides. Despite reassurances, the opposition remains steadfast in its call for a thorough review to ensure that UK businesses are not inadvertently disadvantaged in the process.

— Authored by Next24 Live