The United Kingdom and India are making progress towards a free trade agreement (FTA), although there is still work to be done on services and tariffs. According to a British source speaking to Reuters, talks were initiated in January 2022 but faced challenges in recent months, partly due to upcoming elections in both countries. However, the negotiations gained momentum after a productive eleventh round of talks earlier this week, enabling negotiators to address more sensitive issues that require careful resolution.
The Business and Trade Secretary, Kemi Badenoch, leads the British side in the negotiations. The source stated, “The talks certainly picked up pace during the last round and gained momentum, but there is still progress to be made in areas such as services and tariffs for various goods. It’s not about rushing to conclude the agreement; rather, it’s about ensuring an ambitious deal that will be mutually beneficial in the long run.”
The former Prime Minister, Boris Johnson, set ambitious timelines for the negotiations, but the current British leader, Rishi Sunak, emphasized the need for a thorough and well-considered agreement. This signifies the government’s commitment to striking the right deal, even if it takes time.
The talks have received significant political attention, as evidenced by the visits of India’s trade minister, Piyush Goyal, and Commerce Secretary, Sunil Barthwal, to London during the recent round. The next round of talks is scheduled to commence in August.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
