India and UK to Resume Free Trade Agreement Talks
India and the United Kingdom are set to resume talks for a proposed free trade agreement (FTA) this week. An official Indian delegation will visit London to discuss the remaining issues in the negotiation.
"A team is going to the UK this week. There are very few pending issues left in the negotiation," said commerce secretary Sunil Barthwal. He declined to identify the specific issues still under discussion.
A presentation by the commerce ministry stated that "a couple of key priority issues to seal the deal are being ironed out to have a balanced outcome." The presentation added that the majority of difficult issues are nearing resolution.
These talks will be part of the 14th round of negotiations between India and the UK. The first leg of these negotiations began in March 2023.
India and the UK launched negotiations for an FTA in January 2022. The talks gained momentum in recent months and were close to completion. However, the General Elections in India have slowed the process. It is expected that a deal may be signed soon after the new government is elected.
Pending issues between the two countries include the UK's request for greater market access and lower tariffs for items such as whiskeys and automobiles. India is seeking more visas for its professionals and social security payments for Indian professionals working temporarily in the UK who do not qualify for pensions in the country.
Meanwhile, India and the European Union are likely to begin the eighth round of negotiations for their FTA in May or June 2023 in Brussels. Both sides have agreed to meet virtually to discuss some chapters before the commencement of the next round. The seventh round of talks between the two was held in February 2023.