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India, UK 14th round of FTA talks in January.
Dec 19, 2023

India and the UK will in January next year hold the next round of talks for the proposed free trade agreement (FTA) to resolve remaining issues, the commerce and industry ministry said on Monday.
 
The 13th round of negotiations for the proposed pact was held between September 18 and December 15.
 
'The round included sessions both in person, in London and Delhi, and virtual talks. As with round 12, these negotiations focussed on complex issues including goods, services, and investment,' the ministry said in a statement.
 
The negotiations for the agreement were launched on January 13, 2021.
 
There are 26 chapters in the proposed pact. Talks have been stuck on certain crucial issue of visas, tariffs on whisky and rules of origin.
 
India wants greater access for its skilled professionals from sectors like IT and healthcare in the UK, market access for several goods at nil customs duties and social security agreement in the pact to ensure that employers are saved from making double social security contributions for the same set of employees posted in other countries. The UK’s demand on import duty concessions on electric vehicles, whisky and dairy products, is another sticky issue.
 
'The UK and India will continue to negotiate towards a comprehensive and ambitious
FTA,' the ministry said.
 
India’s imports from the UK in April-October were $4.7 billion while exports were $7.4 billion.
 
India’s main exports to the UK are ready-made garments and textiles, gems and jewellery, engineering goods, petroleum and petrochemical products, while key imports include precious and semi-precious stones, ores and metal scraps, and engineering goods.
 
Discussions are also going on between the countries on the bilateral investment treaty. Investment is being negotiated as a separate agreement and earlier, the plan was to conclude the two simultaneously.
    
economictimes.indiatimes.com

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