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3d ago

India-UK Free Trade Agreement Nearing Finalization as Key Hurdles Narrow

Commerce Minister Piyush Goyal may return to London to resolve remaining technical issues and conclude the long-awaited pact.

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No fixed deadline for India-UK FTA but negotiations underway to complete deal at the earliest
Commerce minister Piyush Goyal’s ongoing European visit has heightened expectations for a breakthrough, with both nations working to find mutually acceptable solutions within the next two days. (HT file)
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Overview

  • India and the UK have resolved 25 of 26 chapters in their Free Trade Agreement, with only technical and regulatory issues pending final resolution.
  • Commerce Minister Piyush Goyal concluded talks in London but is expected to revisit later this week to finalize the agreement alongside UK officials.
  • India seeks exemptions from the UK's upcoming carbon border tax and greater mobility for Indian professionals, while the UK pushes for market access in sectors like automobiles and Scotch whisky.
  • In Norway, Goyal discussed operationalizing the India-EFTA TEPA, which includes a $100 billion FDI commitment and aims to create 1 million jobs in India over 15 years.
  • India and the EU are advancing negotiations for a phased Free Trade Agreement, targeting a commercially meaningful deal by the end of 2025.