Last ditch effort: Indian delegation heads to London for FTA talks

The visit is crucial as dates for the general elections are expected to be announced in less than a month, which will trigger the Model Code of Conduct (MCC).

This comes days after the Prime Minister's Office (PMO) reviewed the progress of the India-UK FTA talks on February 16. (File photo)

An Indian delegation headed by commerce secretary Sunil Barthwal is set to leave for London in an effort to seal the free trade agreement with the UK before the general elections.

The visit is crucial as dates for the general elections are expected to be announced in less than a month, which will trigger the Model Code of Conduct (MCC). The UK is also headed towards elections by the end of this year.

“The signing of the India-UK FTA is still possible and the commerce secretary along with other negotiators are headed for the UK on February 20,” a government official told The Indian Express.

This comes days after the Prime Minister’s Office (PMO) reviewed the progress of the India-UK FTA talks on February 16.

The Indian Express, quoting a UK official, reported that the deal can be signed in the next three weeks and that India needs to open up more as it is a high tariff country.

India and the UK launched the talks for a free-trade agreement (FTA) in January 2022. There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights.

The Indian industry is demanding greater access for its skilled professionals from sectors like IT and healthcare in the UK market, besides market access for several goods at nil customs duty.

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On the other hand, the UK is seeking a significant cut in import duties on goods such as scotch whiskey, electric vehicles, lamb meat, chocolates and certain confectionary items.

Britain is also looking for more opportunities for UK services in Indian markets in segments like telecommunications, legal and financial services (banking and insurance).

The bilateral trade between India and the UK increased to $20.36 billion in 2022-23 from $17.5 billion in 2021-22.

Ravi Dutta Mishra

Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, specializing in economic policy and financial regulations. With over five years of experience in business journalism, he provides critical coverage of the frameworks that govern India's commercial landscape. Expertise & Focus Areas: Mishra’s reporting concentrates on the intersection of government policy and market operations. His core beats include: Trade & Commerce: Analysis of India's import-export trends, trade agreements, and commercial policies. Banking & Finance: Covering regulatory changes and policy decisions affecting the banking sector. Professional Experience: Prior to joining The Indian Express, Mishra built a robust portfolio working with some of India's leading financial news organizations. His background includes tenures at: Mint CNBC-TV18 This diverse experience across both print and broadcast media has equipped him with a holistic understanding of financial storytelling and news cycles. Find all stories by Ravi Dutta Mishra here ... Read More