March 8, 2023
2 mins read

India-UK free trade talks covered 11 areas in seventh round

In keeping with the norm so far of alternating locations, the next round is expected to take place in New Delhi towards the end of this month…reports Asian Lite News

The seventh round of India-UK free trade agreement (FTA) talks concluded following technical discussions across 11 policy areas over 43 separate sessions between negotiators from both sides here last month, the British government has said.

In an outcome statement released on Monday, the Department for Business and Trade did not give any further details on the policy areas covered, but confirmed that the eighth round of talks is due to take place in a few weeks’ time.

On 10 February 2023, the United Kingdom and the Republic of India concluded the seventh round of talks for an India-UK FTA, the outcome statement reads.

Technical discussions were held across 11 policy areas over 43 separate sessions. They included detailed draft treaty text discussions in these policy areas. The eighth round of negotiations is due to take place later this Spring, it said.

As with previous rounds, last month’s session was also conducted in a hybrid fashion, with a number of Indian officials travelling to London for negotiations and others attending virtually.

In keeping with the norm so far of alternating locations, the next round is expected to take place in New Delhi towards the end of this month.

Last week, UK Business and Trade Secretary Kemi Badenoch had reiterated her priority focus on pursuing a great trade deal with India.

A deal to cut tariffs and open opportunities for UK services, making it easier for British businesses to sell to an economy set to be the world’s third-largest by 2050, she said in a speech to the Legatum Institute think tank in London.

It coincided with UK Foreign Secretary James Cleverly reaffirming Britain’s commitment to conclude the FTA during his visit to India for the G20 Foreign Ministers’ meeting last week.

According to official UK government statistics, the bilateral trading relationship was worth GBP 34 billion in 2022 growing by GBP 10 billion in one year.

The Confederation of British Industry (CBI), the country’s leading industry body, estimates an India-UK FTA could boost trade with India by GBP 28 billion a year by 2035 and increase wages across the UK by GBP 3 billion.

ALSO READ-India-US Commercial Dialogue to unlock new trade opportunities

Previous Story

Bangladesh’s forex reserves reach $32bn

Next Story

Ranil welcomes financial assurances from creditors

Latest from -Top News

PM Modi Heads to Accra, Signals South-South Priority

The Prime Minister will then travel to Trinidad & Tobago from July 3-4, a country he said shares “deep-rooted historical, cultural and people-to-people connect” with India…reports Asian Lite News Prime Minister Narendra

White House Focus on India COMPACT

The Secretary affirmed the strength of the US-India relationship, highlighting implementation of the US-India COMPACT…reports Asian Lite News The US-India COMPACT—a comprehensive framework for bilateral cooperation—took centre stage during the meeting between

India-US Trade Deal Likely This Week

The interim trade deal would be an initial step towards a comprehensive bilateral free trade agreement between Indian and the US….reports Asian Lite News India is expected to finalise an interim trade

One Year Later, Hasina’s Son Raises Red Flag

Hasina’s abrupt exit last August after violent student protests was widely seen as a blow to democracy in the Muslim-majority nation of 170 million….reports Asian Lite News Sajeeb Wazed, son of former

Global South Finds Its Campus in India

The question is no longer if India can attract global talent, but whether it can build the conditions to do so at scale—with care and vision. Done right, India could emerge as
Go toTop

Don't Miss

Chinese digital loan sharks running scam ops in India

The racket was being run by some Chinese handlers in

PDP will aid Kashmiri Pandits’ rehabilitation: Mehbooba

Mehbooba Mufti said she knows the trauma of Kashmiri Pandits,