India and the United Kingdom will resume negotiations for the proposed free trade agreement (FTA) in New Delhi on Monday, following a gap of over eight months.
UK’s Secretary of State for Business and Trade, Jonathan Reynolds, will be in New Delhi for the resumption of discussions and is scheduled to hold a bilateral meeting with India’s Commerce and Industry Minister, Piyush Goyal, the official said.
The India-UK FTA negotiations commenced on January 13, 2022. A total of 13 rounds of negotiations were completed by December 2023. The 14th round began on January 10, 2024, but was paused by the UK side in May 2024 due to elections in that country.
According to the official, the renewed talks will build upon the progress made in previous discussions and aim to resolve outstanding issues to expedite the finalisation of the trade agreement.
The proposed agreement is intended to enhance bilateral trade and investment. Such trade pacts typically involve the elimination or substantial reduction of customs duties on the majority of goods traded between the two nations. They also include provisions to facilitate trade in services and bilateral investments.
Indian industry representatives are seeking greater access for skilled professionals, particularly in sectors such as IT and healthcare, in the UK market. Additionally, they are advocating for market access for various goods at zero customs duty.
Meanwhile, the UK is pushing for a significant reduction in import duties on products including Scotch whisky, electric vehicles, lamb meat, chocolates, and certain confectionery items.
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