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2w ago

India-UK Trade Deal Nears Completion with 90% Agreement Reached

Negotiations progress rapidly as both nations address remaining issues on tariffs, visas, and investment protections.

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Rachel Reeves, the chancellor, at the London Stock Exchange after talks with her Indian counterpart, Nirmala Sitharaman, left
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Overview

  • India and the UK have agreed on 90% of the Free Trade Agreement (FTA), with final discussions focusing on contentious issues like whisky, automobiles, and visas.
  • Finance Minister Nirmala Sitharaman and UK Chancellor Rachel Reeves co-chaired the 13th Economic and Financial Dialogue in London, reaffirming their commitment to a comprehensive partnership.
  • India seeks faster visa processing for professionals, while the UK aims for reduced tariffs and expanded access for its financial and legal services sectors.
  • India continues to position itself as a global investment hub, highlighting reforms and opportunities in banking, insurance, fintech, and its International Financial Services Centre at GIFT City.
  • The ongoing negotiations align with broader strategies to strengthen bilateral ties amidst global trade uncertainties and shifting geopolitical priorities.