Barry Gardiner, Shadow Secretary for International Trade, commenting on The Chancellor’s trade promotion visit to India, said:
“One does not need to be an oracle to read the meaning of India allowing our existing bilateral investment treaty to lapse just before the Chancellor’s visit.
“Nostalgic visions of creating an ‘Empire 2.0’ through trade with the Commonwealth are understandably being treated with derision by modern economic powerhouses like India.
“India will drive a hard bargain in any future trade negotiations to protect its domestic interests. And this government needs the humility to accept that the immigration policies of Theresa May have done enormous damage to any trade and investment dialogue with India. ‘We want your money, but not your people’ in an extremely unattractive opening gambit in any trade negotiation.”