- The UK’s iconic cricket exports could get a boost from the new Free Trade Agreement
- The latest round of talks initiated by the commerce secretary has ended on a positive note in New Delhi
- It comes as England’s T20 World Cup-winning men’s players took part in the Indian Premier League auction yesterday (Friday, December 23).
Cricket and pad exports from the UK to India could get a big boost next season thanks to the Free Trade Agreement between the two countries.
The latest round of negotiations on the deal, initiated personally by the commerce secretary, concluded in New Delhi last week.
The deal seeks to cut red tape and tariffs for companies, which could include cutting the current 20% tariff on UK-made cricket bats and pads.
Any cuts could benefit iconic British brands such as Gunn & Moore, whose bats are used by England captain Ben Stokes and have been trading with India for over a century.
The Nottingham-based company, which uses English bats and exports “cracked” wooden bats and fully made bats to India, has welcomed the negotiations, saying the tariff cuts will help its business.
UK exports of English willow to India, which Indian companies buy to make bats used by players at all levels of the game, were worth more than £6m annually between 2018 and 2020 and are currently subject to a 10% tariff.
An FTA could cut or remove these taxes altogether, along with duties on other exports that would help UK companies expand in an economy that by 2050 will be the third largest in the world.
The latest round of negotiations concluded ahead of yesterday’s (Friday, December 23) Indian Premier League (IPL) auction, where his teams bid for players like Stokes and some of his England ICC T20 Men’s World Cup-winning teammates. replaced next season.
Exports Minister Andrew Bowie said:
English cricket is proud of its world champion players, but also of our great exports, like the willow bats that go on to take borders around the world.
We look forward to an ambitious modern trade deal with India that helps UK exporters of all types to achieve their sales targets and builds on the growing number of British goods and services sold to India. June.
Gunn & Moore Sales Director Richard Lowy said:
Gunn & Moore Cricket support a UK-India trade deal and hope it will be a very positive outcome for both countries.
England and Wales Cricket Board Interim Chief Executive Clare Connor said:
England and India have long shared a passion for cricket that extends beyond the boundaries of the game. We are blessed to have a game that not only inspires millions of people in both countries, but also creates opportunities to compete and learn from each other in major tournaments like the IPL and brings us all closer together.
Board of Control for Cricket in India Mr. Jay Shah said:
Since 1932, when India played its first Test against England at Lord’s, India-UK cricket ties have grown stronger year on year.
While India has immense support in England, English players have been the favorites of the Indian crowd and are definitely on the must-buy lists of IPL franchises.
The current UK-India trade relationship is already worth over £29 trillion and UK-India investment supports almost half a million jobs in both countries.