This week marks the first time trade ministers from both countries formally get their negotiating teams around the table under Britain’s Labour Party government elected in July 2024.
India and the United Kingdom on Monday relaunched negotiations on the long-pending Free Trade Agreement (FTA). The announcement was made by Union Minister for Commerce and Industry Piyush Goyal and Secretary of State for the Department for Business and Trade of the United Kingdom Jonathan Reynolds.
Both sides have agreed to resume negotiations towards a balanced, mutually beneficial and forward-looking deal that delivers mutual growth and builds on the strengths of the two complementary economies.
“Today the Republic of India and the United Kingdom have resumed negotiations towards a trade deal between our two countries,” the government said in a release.
“The strengthening of the trading relationship between our two countries has the potential to unlock opportunities for business and consumers across both our nations and build further on our already deep ties. The two leaders directed the negotiators to work together to resolve the outstanding issues in the agreement to ensure a fair and equitable trade deal for shared success,” it further said.
Ahead of the meeting, Reynolds said securing a Free Trade Agreement (FTA) with “vibrant market” India is a top priority for the British government.
“Securing a trade deal with what is soon-to-be the third biggest economy in the world is a no-brainer, and a top priority for me and this government,” said Reynolds, who arrived in New Delhi on Monday for the talks.
This week marks the first time trade ministers from both countries formally get their negotiating teams around the table under Britain’s Labour Party government elected in July 2024.
FTA negotiations between India and the United Kingdom were launched on 13th January 2022 and 13 rounds were held till December 2023. The 14th Round of Negotiations, which began on 10th January 2024, was underway when negotiations were paused by the UK side in May 2024 due to their elections.
