India-UK on Perfect Pace for Bilateral Free Trades Agreement
UK Prime Minister Rishi Sunak will likely visit India at the end of this month. The Free Trade Agreement (FTA) has been getting delayed, and the two countries are optimistic that the deal may soon be finalized. A team of 30 UK negotiators has arrived in New Delhi to hold the 14th round of discussions, and both sides have reached a mutual agreement on 24 out of 26 chapters of the FTA deal.
“Indian and British negotiators are holding the 14th round of talks in New Delhi after a broad understanding on 24 of the 26 chapters in the proposed trade deal.”, a senior journalist posted in the X.
However, the UK PM’s visit will be determined by the remaining deals that are yet to be negotiated. Both countries are optimistic and anticipating the PM’s visit to India to finalize the much-awaited and ambitious Free Trade Agreement. Significant progress has been made to resolve the “Indefinite delay,” as both countries will be heading for a poll next year.
“There has been significant progress in the deal, and the aim is for an early conclusion as both countries are heading for elections soon.”
The two countries are looking forward to reaching a “perfect deal” and bridging the gaps by Diwali this year. Sadly, the deal could not be finalized last year because of some political developments in the UK.
During a virtual meeting in 2021, Prime Minister Modi and former UK Prime Minister Boris Johnson agreed to boost their relationship to a Comprehensive Strategic Partnership. This partnership aims to expand ties in developing defense and security, trade and economy, visas, and global issues such as climate change.
PM Sunak’s visit during the G20 was convincing, and he has sometimes stated how the UK and India could gain through bilateral trade and advanced and modern deals. Sunak told the PTI during his last visit that there is “still some way to go…” and he will be looking forward to facilitating and finalizing the trades and hoping will probably double by 2030.
“A modern, forward-looking Bilateral Free Trades agreement can put us firmly on the path to our shared ambition of doubling UK-India trade by 2030,” said Sunak.
Despite the India-Canada standoff, the FTA has not been impacted. However, this month, PM Sunak’s four-day visit to India could resolve the issues and begin the free trade agreement without further delay. During his stay in India, the negotiations are expected to sign the FTA.
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