India and UK to Resume Free Trade Agreement Talks in 2025

India and the UK will restart FTA talks in early 2025 following elections in both countries. Prime Ministers Modi and Starmer discussed key issues including economic offender extradition and establishing new consulates. This partnership is part of a strategic initiative focusing on trade, technology, and climate cooperation, aiming for a mutually beneficial agreement amidst growing economic ties.

India and the United Kingdom are set to resume discussions on their free trade agreement (FTA) early next year after a pause associated with recent elections in both nations. The announcement follows a productive meeting at the G20 Summit in Rio de Janeiro between Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer. During their discussions, they highlighted various topics including the extradition of economic offenders and plans for establishing new Indian consulates in Belfast and Manchester to enhance economic and business relations. The two leaders emphasized the significance of the comprehensive strategic partnership, which includes collaboration in trade, technology, climate, and education. This partnership is vital, particularly as India emerged as the UK’s 11th largest trading partner, accounting for a notable share of total UK trade. The upcoming negotiations seek to address outstanding issues such as tariff concessions and visa norms, aiming for a balanced and mutually beneficial trade agreement.

The restart of the FTA talks between India and the UK comes after an earlier phase of negotiations that began in 2022. These discussions were temporarily halted due to general elections in both countries, which resulted in significant political changes: Modi secured a third term while Starmer assumed leadership of the Labour Party. The trade talks focus on issues such as automotive tariffs, visa provisions for professionals, and the extradition of economic offenders, ensuring a comprehensive approach to the FTA’s successful implementation.

The resumption of trade talks between India and the UK marks a crucial step towards solidifying their economic partnership. With a mutual emphasis on addressing economic challenges and pursuing shared interests across various sectors, both nations are poised to strengthen their bilateral relations significantly. The anticipated discussions will provide a platform to tackle crucial outstanding issues, ultimately promoting a balanced and beneficial trade agreement.

Original Source: www.hindustantimes.com