India and UK Resume Free Trade Talks After Year-Long Pause
Negotiations aim to finalize a comprehensive agreement addressing tariffs, market access, and business mobility to boost bilateral trade.
- India and the UK have restarted free trade agreement (FTA) negotiations after an eight-month suspension due to elections in both countries.
- The talks aim to triple bilateral trade, currently valued at $21.34 billion, over the next decade by resolving tariff and non-tariff barriers.
- Key sticking points include India's tariffs on automobiles and Scotch whisky, the UK’s push for services access, and India's call for easier business mobility for its professionals.
- Both nations are also negotiating a bilateral investment treaty and a double contribution convention alongside the FTA for a more comprehensive economic partnership.
- UK Trade Secretary Jonathan Reynolds emphasized the deal as a top priority, while Indian Commerce Minister Piyush Goyal stressed a balanced, mutually beneficial approach.