Express News Service
New Delhi: Lovers of scotch whisky in India may soon have a reason to celebrate as a free trade agreement between India and the United Kingdom may be finalised in as little as a month from now.
The twelfth, and hopefully the final, round of talks to thrash out the agreement began in Delhi on Wednesday, with a high-level trade delegation from UK in Delhi for the purpose.
“If all goes well, the much-awaited FTA will be ready within a month,” said a source aware of the issue, adding that negotiations are going on to ensure that all loose ends are tied.
Free trade agreements are designed to ease the flow of goods and services between countries by simplifying and/or lowering import tariffs. They typically have the impact of lowering the prices of imported goods for the end user.
“The excise issue on the import of Scotch whisky too is likely to be settled amicably between Whisky manufacturers of India and the Scotch Whisky manufacturers,” the source added.
The India UK FTA deal got delayed after former British PM Boris Johnson had to step down and the much anticipated Diwali deadline could not be met.
In the eleventh round of talks, which ended on 18 July 2023, agreement was achieved for 19 out of the 26 chapters/policy areas under discussion. A few more issues are left to be ironed out, and most of the chapters are likely to be closed by the end of the 12th round, the source added.
It is learnt that officials from Britain’s trade ministry, as well as the British trade minister, will be in India later this month to attend the G20 trade and investment working group meeting that is scheduled to be held between August 21st and 25th.
Meanwhile, the Indian high commissioner to the UK, Vikram Doraiswami, has expressed optimism for a mutually beneficial pact.
The previous round of negotiation was conducted in a hybrid fashion, with some Indian officials traveling to London and others attending virtually.
The eleventh round also saw India’s minister for commerce and industry, Piyush Goyal, visit the UK as part of the negotiations.
He met with Kemi Badenoch MP, the Secretary of State for Business and Trade, and Nigel Huddleston MP, Minister of State for International Trade, to explore ways to make progress on the FTA negotiations and wider trade and investment opportunities between the UK and India.
Sunil Barthwal, Commerce Secretary, Government of India also visited the UK during the round. He met with senior UK trade officials and took stock of the progress made in the eleventh round of negotiations.
New Delhi: Lovers of scotch whisky in India may soon have a reason to celebrate as a free trade agreement between India and the United Kingdom may be finalised in as little as a month from now.
The twelfth, and hopefully the final, round of talks to thrash out the agreement began in Delhi on Wednesday, with a high-level trade delegation from UK in Delhi for the purpose.
“If all goes well, the much-awaited FTA will be ready within a month,” said a source aware of the issue, adding that negotiations are going on to ensure that all loose ends are tied.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });
Free trade agreements are designed to ease the flow of goods and services between countries by simplifying and/or lowering import tariffs. They typically have the impact of lowering the prices of imported goods for the end user.
“The excise issue on the import of Scotch whisky too is likely to be settled amicably between Whisky manufacturers of India and the Scotch Whisky manufacturers,” the source added.
The India UK FTA deal got delayed after former British PM Boris Johnson had to step down and the much anticipated Diwali deadline could not be met.
In the eleventh round of talks, which ended on 18 July 2023, agreement was achieved for 19 out of the 26 chapters/policy areas under discussion. A few more issues are left to be ironed out, and most of the chapters are likely to be closed by the end of the 12th round, the source added.
It is learnt that officials from Britain’s trade ministry, as well as the British trade minister, will be in India later this month to attend the G20 trade and investment working group meeting that is scheduled to be held between August 21st and 25th.
Meanwhile, the Indian high commissioner to the UK, Vikram Doraiswami, has expressed optimism for a mutually beneficial pact.
The previous round of negotiation was conducted in a hybrid fashion, with some Indian officials traveling to London and others attending virtually.
The eleventh round also saw India’s minister for commerce and industry, Piyush Goyal, visit the UK as part of the negotiations.
He met with Kemi Badenoch MP, the Secretary of State for Business and Trade, and Nigel Huddleston MP, Minister of State for International Trade, to explore ways to make progress on the FTA negotiations and wider trade and investment opportunities between the UK and India.
Sunil Barthwal, Commerce Secretary, Government of India also visited the UK during the round. He met with senior UK trade officials and took stock of the progress made in the eleventh round of negotiations.
