June 19, 2023
1 min read

India, UK seek equal treatment for services sector

Under the services chapter of the free trade agreement, there are no customs duty concessions given to each other…reports Asian Lite News

India and the UK are seeking equal treatment in each other’s market for their respective companies engaged in the services sector under the proposed free trade agreement, which is under negotiations, a government official said.

The two countries are looking at promoting trade in services through this agreement, negotiations for which was launched on January 13, 2021.

As many as 10 rounds of talks have been completed till June this year and both sides are aiming to conclude the negotiations at the earliest.

In the services sector, the official said the UK is showing keen interest in areas such as financial sectors, while India is looking at areas such as education and the movement of skilled professionals.

Under the services chapter of the free trade agreement, there are no customs duty concessions given to each other.

The two trading partners negotiate issues such as giving national treatment to Indian and British companies in different sectors and easing norms to promote trade in services like such as visa processes for the skilled labour force and easy foreign direct investment norms in the sector.

“Regular meetings are held at higher levels to review the progress, resolve the outstanding issues and discuss the way forward in negotiations. So far nothing has firmed up in the services sector,” the official, who did not wish to be identified, said.

“The UK is an important financial services centre of the world, so they always have interest in that,” the official added.

ALSO READ-India open to FTA talks with Africa, says Goyal

Previous Story

Neutral rules essential for multilateralism

Next Story

Starmer pledges to end North Sea exploration

Latest from -Top News

Modi Eyes Trade Deals in Maldives

PM Modi will arrive in Maldives on July 25 which would be the second and final leg of his two-nation visit, following the visit to the United Kingdom, starting Wednesday….reports Asian Lite

Russia Strikes Back at EU

The Council of the European Union approved the 17th and 18th packages of sanctions on Russia on May 20 and July 18…reports Asian Lite News Russia has significantly expanded its entry ban

PM Modi Due in UK

PM Modi’s visit to the UK, scheduled for July 23–24, comes at the invitation of British counterpart Keir Starmer and will be his fourth trip to the country….reports Asian Lite News Prime

Victory First, Then Peace?

Katz stressed the importance of meeting the war’s goals as set, primarily the return of all Israeli hostages and the surrender of Hamas….reports Asian Lite News Israeli Defence Minister Israel Katz said

US Brings Up Old Claim, India Pushes Back

US Raises Trump’s India-Pakistan Claim at UN; India Reaffirms Bilateral Stand…reports Asian Lite News The US brought President Trump’s May claim of resolving the India-Pakistan conflict to the Security Council, but New
Go toTop

Don't Miss

Goyal calls on WTO to reassess conduct

Besides, he said the Centre should have no role in

525 KW solar power plant set up in Golden Temple

The work was completed in five months…reports Asian Lite News