British delegation to start next round of India-UK FTA talks on October 9 British delegation to start next round of India-UK FTA talks on October 9. Sunak…reports Asian Lite News
India and the United Kingdom (UK) are likely to sign a Foreign Trade Agreement (FTA) by the end of October as both parties aim to iron out differences on key issues, including rules of origin and visas for Indian professionals. The bilateral pact, which missed an earlier deadline of Diwali 2022, is likely to be signed during British Prime Minister Rishi Sunak’s possible visit to New Delhi in the last week of this month.
According to one of the officials, while there has been steady progress on issues pertaining to rules of origin, the matter of mobility of Indian professionals to the UK is currently being negotiated. “They are looking at their interests and we are looking at ours,” this person added.
India has been pushing for short-term visas for skilled professionals to cater to those who go to the UK for a limited duration to work on specific projections, the official said, adding that such workers will not need permits to stay long term. On the other hand, the UK has been reluctant to increase the current quota of nearly one lakh annual work visas granted to Indian nationals.
“A 30-member delegation from the UK along with a team of India is currently involved in negotiations to close remaining issues so that the two countries conclude the talks soon. While consensus has already been achieved on 24 chapters, work is on to conclude the remaining two,” the second official said.
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Throughout the FTA talks, areas of contention for the Indian side have been the rules of origin for goods, intellectual property rights and facilitation of professional mobility.
“UK FTA is the most complex FTA India will sign. This is also the most comprehensive FTA India will have with a developed country. It will pave the way for other such agreements,” Commerce Secretary Sunil Barthwal said during the release of trade data on July 14.
India and the UK have been negotiating a comprehensive bilateral pact since January last 2022, which is expected to significantly increase trade between the two nations. The initial deadline for completion of the negotiations was October 24, 2022.
“With both countries going into general elections next year (2024), they are keen on closing the deal before the end of this year,” the first official said.
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