December 19, 2023
1 min read

14th round of India-UK FTA talks to start in Jan

India and the UK launched the talks for a free-trade agreement (FTA) in January 2022, to conclude talks by Diwali (October 24, 2022), but the deadline was missed due to political developments in the UK…reports Asian Lite News

India and the UK officials in January next year will hold the next round of talks for the proposed free trade agreement (FTA) to resolve remaining issues, the commerce ministry said on Monday.

The 13th round of negotiations for the proposed pact was held between September 18 and December 15.

“The UK and India will continue to negotiate towards a comprehensive and ambitious Free Trade Agreement. The fourteenth round of negotiations will take place in January 2024,” the ministry said in a statement.

These negotiations focussed on complex issues including goods, services, and investment.

An Indian team was in London recently.

Issues which need to be resolved include duty cuts on electric vehicles and whiskey and the movement of professionals. Talks are also progressing on the proposed bilateral investment treaty (BIT).

India and the UK launched the talks for a free-trade agreement (FTA) in January 2022, to conclude talks by Diwali (October 24, 2022), but the deadline was missed due to political developments in the UK.

There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights. The Indian industry is demanding greater access for its skilled professionals from sectors like IT, and healthcare in the UK market, besides market access for several goods at nil customs duties.

On the other hand, the UK is seeking a significant cut in import duties on goods such as scotch whiskey, automobiles, lamb meat, chocolates and certain confectionary items.

Britain is also looking for more opportunities for UK services in Indian markets in segments like telecommunications, legal and financial services (banking and insurance).

The bilateral trade between India and the UK increased to USD 20.36 billion in 2022-23 from USD 17.5 billion in 2021-22.

ALSO READ-Never Been Closer to Reaching Pact on FTA With India: EFTA

Previous Story

Biden shelves trade pact with UK before polls

Next Story

India rejects criticism over FTA delays  

Latest from -Top News

MIND Diet Shows Short-Term Gains for Cognition

The study enrolled 604 participants who were overweight, had a suboptimal diet, and a family history of Alzheimer’s disease The MIND diet, known for its emphasis on brain-healthy foods like whole grains,

Indian-American Takes Office as Head of NIH

Born in Kolkata, India, Dr. Bhattacharya earned both his BA and MA degrees in economics from Stanford University, followed by a doctorate in medicine and a PhD in economics from the same
Go toTop

Don't Miss

Britain slaps more sanctions

Britain on Thursday slapped sanctions on 59 more Russians and

Biden shelves trade pact with UK before polls

Sources say the deal was always likely to prove difficult