Progress In India-UK FTA Talks, Both Sides Aim For Equitable Deal

New Delhi, Mar 16 (KNN) Commerce Ministry announced on Friday that the majority of challenging issues in India-UK Free Trade Agreement (FTA) negotiations are on track towards resolution, with both parties actively working towards a fair and equitable deal.

The talks for an FTA between India and the UK were initiated in January 2022 to strengthen economic ties between the two nations.

The comprehensive agreement consists of 26 chapters covering various sectors including goods, services, investments, and intellectual property rights.

Commerce Secretary Sunil Barthwal emphasised the commitment of both sides to achieving a fair deal, stating that they are deeply engaged in negotiations.

The 14th round of negotiations took place in January, with significant progress reported in chapter-wise textual discussions. Negotiations regarding goods and services are said to be in an advanced stage.

Recently, a UK delegation visited India to address remaining issues in the negotiations.

Bilateral trade between India and the UK witnessed growth, reaching USD 20.36 billion in 2022-23 compared to USD 17.5 billion in the previous fiscal year.

(KNN Bureau)