India and UK to Resume Free Trade Agreement Talks in 2025

India and the UK will resume FTA negotiations in 2025 after a pause due to elections. Prime Ministers Modi and Starmer discussed key issues such as tariff concessions and extradition of economic offenders during their meeting at the G20 Summit. Modi announced plans for new consulates in Belfast and Manchester, signaling strengthened economic ties and cultural exchange between both nations.

The United Kingdom and India have agreed to recommence their Free Trade Agreement (FTA) negotiations in 2025, following a hiatus due to electoral events in both nations. During a meeting at the G20 Summit in Rio de Janeiro, Prime Minister Narendra Modi and Prime Minister Keir Starmer acknowledged the importance of progressing the trade discussions, which commenced in January 2022. Modi emphasized India’s commitment to fostering a robust strategic partnership with the UK, focusing on sectors such as technology, green energy, and security. The leaders discussed the necessity of addressing issues pivotal to the negotiations, including tariff concessions and simplified visa processes. Modi highlighted the urgent matter of extraditing Indian economic fugitives from the UK, expressing the need for collaboration to expedite these legal processes. Furthermore, India will establish new consulates in Belfast and Manchester to reinforce business and cultural exchanges. The partnership aims to bolster trade, cultivate research and innovation in emerging technologies, and enhance people-to-people connections, marking a significant step forward in UK-India relations.

The United Kingdom and India have been engaged in discussions to establish a comprehensive Free Trade Agreement since January 2022. However, these negotiations were paused due to national elections in both countries, where Prime Minister Modi won a third term, and Keir Starmer’s Labour Party formed a new government. The forthcoming negotiations are anticipated to address key trade issues and foster deeper economic ties, with a focus on technology, defense, and cultural links. Modi and Starmer’s recent meeting signals a revived commitment to collaboration in various sectors following this electoral break.

In conclusion, the relaunch of FTA talks between the UK and India signifies a renewed dedication to enhancing trade relations and strategic collaboration. The dialogues are set to address critical issues surrounding tariffs, visa processes, and extradition of economic offenders. Establishing new Indian consulates in the UK further emphasizes the commitment to bilateral economic ties, facilitating increased trade and innovation in the years to come.

Original Source: www.hindustantimes.com