November marks the anticipated resumption of Free Trade Agreement (FTA) negotiations between India and the UK following a roughly eight-month hiatus.

Prior to the UK’s budget presentation on 30 October, which is when India expects a call to begin free trade agreements, government sources informed CNBC TV18 that UK ministers are presently receiving briefings on a number of problems.

March 2024 saw the suspension of trade negotiations between India and the UK while both countries prepared for general elections. From $20.36 billion in FY23 to $21.36 billion in FY24, India and the UK’s bilateral trade has grown.

A number of controversial topics need to be resolved as they get ready for the next round of negotiations, even if both parties are still optimistic about reaching a just and equitable agreement. The talks started on 13 January 2022, and have been delayed by several changes in UK leadership. The Prime Minister’s Office (PMO) of India assessed the status of the talks in February of this year.

21 of the 26 policy topics will have been finalised by the end of 2023 after 14 rounds of deliberations. Goods, services, investments, and intellectual property rights are among the topics covered in the agreement’s 26 chapters.

In the wake of the recession and the UK’s hostility to immigration and outsourcing, India has asked for more FTA access for IT/ITeS and healthcare workers. In the meantime, the UK has asked for tax reductions on electric cars, chocolates, lamb meat, and scotch whisky—the latter of which has been met with resistance from the Indian alcohol sector. Additionally, a bilateral investment treaty (BIT) is being negotiated by the two nations.

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