India and the UK will restart negotiations for a Free Trade Agreement in early 2025 following a pause due to elections. At the G20 Summit, Prime Ministers Modi and Starmer outlined priorities including trade, security, and technology. Modi emphasized addressing economic offenders and announced new Indian consulates in the UK to strengthen ties.
India and the United Kingdom are set to resume discussions regarding a Free Trade Agreement (FTA) in early 2025, a move welcomed by both Prime Minister Narendra Modi and UK Prime Minister Keir Starmer. This decision follows a hiatus attributed to general elections within both nations. At a recent meeting during the G20 Summit in Rio de Janeiro, the leaders underscored their commitment to advancing bilateral trade, investment, security collaboration, and technological cooperation. Modi emphasized the urgency of addressing economic offenders while announcing the establishment of two new Indian consulates in Belfast and Manchester to enhance bilateral ties and consular services for the Indian community.
The UK and India initiated FTA discussions in January 2022, reaching their 14th round of talks earlier this year before pausing due to the electoral processes in both countries. With Modi’s re-election and Starmer’s ascent to leadership, there is renewed momentum to resolve outstanding issues, such as UK demands for tariff reductions on automobiles and India’s request for more lenient visa regulations for professionals. The leaders also aim to bolster cooperation in various sectors like green energy and technology.
In summary, the resumption of FTA negotiations between India and the UK marks a significant step toward strengthening their comprehensive strategic partnership. The emphasis on economic offenders and establishment of new consulates indicates a parallel focus on enhancing diplomatic relations alongside trade discussions. With both nations eager to collaborate in pivotal areas, the future of their economic partnership appears promising.
Original Source: www.hindustantimes.com
