FTA: India and UK To Discuss The Final Stage of Free Trade Agreement, Efforts Underway
India-UK FTA: Following the conclusion of the 13th round of negotiations for a free trade agreement (FTA) last week, the discussion will resume in the New Year between India and the UK, according to a joint outcome statement released by the British government. Without providing a timeline for completion, the UK’s Department for Business and Trade (DBT) stated that the 14th round of negotiations will continue to tackle difficult issues in hopes of reaching an agreement next month. The India-UK FTA negotiations began in January of last year to significantly expand the GBP 36 billion bilateral trading partnership.
Elections Could Affect The FTA Discussion
An Indian delegation is currently in London for additional negotiations after a high-level British delegation traveled to India to resolve differences. A trade agreement is expected to be finalised by the end of February 2024, especially since both India and the UK will be holding general elections next year, so there won’t be as much time for a trade agreement. The 14th round will probably be hosted by London following the current format, which calls for both in-person and virtual talks between officials. Simplifying visa requirements for professional mobility is one of India’s main demands, and it continues to be a major topic of conversation. In addition, there are a few other matters that require consensus, such as the UK's desire for increased market access for gin, whiskey, and electric cars.
