India and Britain will hold talks on the next round of FTA this month, talks were halted due to elections

The next round of talks on the Proposed Free Trade Agreement between India and Britain will likely be held this month to thrash out pending issues. As per the proposed FTA talk between both countries, it began in January 2022. The 14th round of negotiations was withheld due to elections in both countries. An official said that both countries are in touch with each other.

British Prime Minister Keir Starmer spoke to PM Narendra Modi on Saturday. Both the leaders agreed to work towards completing a mutually beneficial FTA. Indian industry is demanding greater access to the British markets for its skilled professionals in sectors such as IT and healthcare and market access for many items at zero customs duty. In return, Britain wants to get a reduction in import duties on Scotch whisky, electric vehicles, chocolates, and a few other products.

Britain is also looking for more opportunities in sectors such as telecom, legal, and financial services (banking and insurance) in the Indian markets. The two countries are also negotiating a bilateral investment treaty (BIT). According to the think tank GTRI (Global Trade Research Initiative), the agreement has been almost finalized and the Labour Party may approve it with some adjustments like a reduction in the number of visas for Indian professionals.