India, UK conclude 11th round of negotiations for FTA, next round of talks to take place in coming months

The commerce ministry on Monday released a statement saying that India and the United Kingdom have concluded the 11th round of negotiations forwhat is termed as a proposed free trade agreement (FTA). The statement further added that the next round of negotiations will take place in the coming months.

India and the United Kingdom are making efforts towards straightening differences on issues like intellectual property rights (IPRs) and rules of origin under the agreement, for which the negotiations began in January 2021.

"On July 18, the UK and India concluded the eleventh round of talks for the UK-India FTA. Technical discussions were held across nine policy areas over 42 separate sessions. They included detailed draft treaty text discussions in these policy areas," it said.

Add WION as a Preferred Source

Commerce and Industry Minister Piyush Goyal visited the United Kingdom on July 10-11 to participate in the 11th round of the negotiations.

He met with Kemi Badenoch MP, the Secretary of State for Business and Trade, and Nigel Huddleston MP, the Minister of State for International Trade, where they had discussions on ways tomakeprogress on the negotiations and also wider trade and investment opportunities for the United Kingdom and India.

During the several rounds of talks, Commerce Secretary Sunil Barthwal also visited the United Kingdom. He met with senior UK trade officials and took stock of the progress made in the 11th round of negotiations.

The 12th round of talks is scheduled to take place in the coming months. The negotiations between the two countries for the agreement cloak as many as 26 policy areas/chapters.

Investment is being negotiated as a separate agreement (bilateral investment treaty) between India and the United Kingdom and would be concluded simultaneously with the free trade agreement.

Both countries missed the deadline last year due to economic and political crises in the UK.

The Indian industry is demanding greater access for its skilled professionals in the United Kingdom market and entry of Indian whiskey by removing conditions pertaining to the three-year minimum maturityperiod. The UK is also pursuing a significant cut in the import duties on Scotch whiskey. Britain is also looking for more opportunities for UK services in the Indian markets.

The bilateral trade between the countries has increased to USD 20.36 billion in 2022-23 from USD 17.5 billion in 2021-22.

(With inputs from agencies)

WATCH WION LIVE HERE

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.