Key focus on market access: Recent bilateral trade growth between the two countries highlights the potential benefits of a finalized agreement, which could strengthen economic ties and open new opportunities for businesses in both markets
India and the UK are set to continue negotiations in October on a proposed free trade agreement (FTA), seeking to resolve lingering issues in key sectors, reported economictimes.indiatimes.com.
The talks, which initially began in January 2022, stalled during both nations’ election cycles but are now poised to move forward with renewed energy.
However, achieving consensus on sensitive issues in both goods and services will be critical to concluding the talks successfully
The primary focus of the discussions is on expanding market access for goods and services. India aims to secure better opportunities for its skilled professionals, particularly in sectors such as IT and healthcare, while also pushing for zero customs duty on certain exports. Meanwhile, the UK is advocating for reduced import tariffs on products like Scotch whiskey, electric vehicles, and lamb meat.
Commerce Secretary Sunil Barthwal confirmed the upcoming round of negotiations, noting that the UK government is currently briefing its newly appointed ministers on the state of the FTA. Although both sides are eager to finalize the deal, Barthwal acknowledged that some challenges remain beyond the control of negotiators.
***********************************************************
Readers
These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.
Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world. We have taken a small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.
Please help us to keep our journalism independent and free.
In these difficult times, running a news website requires finances. While every contribution, big or small, will make a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.
For more information: pravasisamwad00@gmail.com