After an eight-month pause, India and the UK will resume free trade agreement (FTA) negotiations from 24th February, with UK Business and Trade Secretary Jonathan Reynolds visiting India for talks with Commerce Minister Piyush Goyal.
Launched on 13th January 2022, the negotiations saw 13 rounds until December 2023 before being paused in May 2024 due to UK elections. The talks will build on previous progress to finalise the trade deal.
The agreement aims to boost trade and investments by reducing customs duties and easing service norms. India seeks better access for its IT and healthcare professionals in the UK, while the UK is pushing for lower tariffs on Scotch whisky, electric vehicles, lamb meat, and chocolates, and expanded opportunities in India’s financial and legal sectors.
The momentum for the deal has increased following India’s 2025-26 Budget proposal to raise the foreign investment limit in the insurance sector from 74% to 100%.
Bilateral trade between the two nations rose to $21.34 billion in 2023-24 from $20.36 billion in 2022-23. India imposes an average tariff of 14.6% on UK goods, while UK duties on Indian imports average 4.2%.
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