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Commerce secretary Sunil Barthwal said on Monday, “A team is going to the UK this week. There are few pending issues left in the negotiation”
The talks will be part of the 14th round of negotiations between India and UK, which was the first leg that began in March this year.
In January 2022, India and UK launched negotiations for a FTA, which covers 26 chapters or policy areas like intellectual property, rules of origin apart from tariff reductions and market access. Along with the FTA both sides also intend to ink a Bilateral Investment Treaty(BIT).
With general elections on way, however, the talks are in slow pace and is expected that a deal may be signed soon once the government comes to power.
“A couple of key priority issues to seal the deal are being ironed out to have a balanced outcome”, said in a commerce ministry presentation, adding that majority of difficult issues are towards resolution.
Pending issues between India and UK include greater market access and lower tariffs for items such as whiskeys and automobiles. India is looking for more visas for it’s professionals and social security payments by professionals working in the UK. However, they do not qualify for pensions in the country.
On another key, India is negotiating with the European Union, the official said the eighth round of negotiations are being planned for May.
The seventh round of talks were held in February this year. Prior to the next round officials from both sides will be meeting virtually for discussions on different policy areas.
Both UK and EU are key trade partners for India. The UK is the 6th biggest market for Indian exports while among trading blocks, the EU is the biggest buyer of goods from India which accounts for 17% of India’s exports.
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