World

Prime Minister Modi Reaffirms Commitment to UK Free Trade Agreement

Prime Minister Narendra Modi recently engaged in discussions with his British counterpart, Rishi Sunak, underscoring the importance of advancing the bilateral Comprehensive Strategic Partnership and expediting negotiations for a mutually beneficial Free Trade Agreement (FTA). Modi expressed optimism about strengthening ties between India and the UK during a conversation with Sunak, emphasizing the need for an early conclusion to the FTA.

Recent UK-India Trade Talks

Despite the expressed commitment from both sides, recent rounds of trade negotiations between the UK and India have hit a deadlock. According to a Bloomberg report, talks concluded without a breakthrough on significant issues. Following the latest discussions, UK officials returned from New Delhi on March 8, indicating that obstacles remain in key areas such as goods, services, and investments.

Hope Amidst Challenges

Also read: Pakistani Boat Carrying Drugs Worth Rs 480 Crore Intercepted Near Gujarat Coast

Union Minister Piyush Goyal conveyed optimism about the ongoing negotiations, expressing confidence in positive outcomes in the near future. Goyal assured that Indian officials are actively engaging in various discussions, fostering hope for a successful agreement. However, challenges persist, particularly regarding unresolved issues in trade discussions.

UK’s Flexible Approach

Kemi Badenoch, the UK’s Secretary of State for Business and Trade, acknowledged the complexities surrounding the negotiation process. While affirming the possibility of reaching a trade deal with India before a general election, Badenoch emphasized that the UK is not imposing any artificial deadlines. The UK remains committed to fostering a constructive dialogue with India, prioritizing the quality and substance of the agreement over arbitrary timelines.
Ongoing Negotiations

India and the UK initiated negotiations for a free trade agreement in January 2022, aiming to bolster the existing GBP 36-billion bilateral trading partnership. The 13th round of talks concluded in December last year, with both parties optimistic about reaching an agreement. Currently, discussions are underway in the fourteenth round, with hopes pinned on resolving outstanding issues and achieving a mutually beneficial outcome.

Srushti Sharma

Recent Posts

Seeing The Lord Among Devotees Is The Pinnacle Of Humility: Gautam Adani At Rath Yatra

Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…

13 mins ago

PM Modi Interacts With Group Captain Shubhanshu Shukla Aboard The ISS

PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…

1 hour ago

Gautam Adani, Family Participate In Puri Rath Yatra; Launch Massive ‘Prasad Seva’ Initiative

Gautam Adani, along with his wife Priti Adani and son Karan Adani, joined thousands of…

2 hours ago

PM Modi, Leaders Pay Tribute To Former PM PV Narasimha Rao On Birth Anniversary

PM Narendra Modi on Saturday paid tribute to former Prime Minister PV Narasimha Rao on…

2 hours ago

Gautam Adani Hails Divine Experience At Rath Yatra; Praises Odisha’s Graceful Management

Gautam Adani conveyed profound spiritual emotions after witnessing the revered Rath Yatra of Lord Jagannath…

2 hours ago

Punjab’s Litchis Reach Middle East Markets In Boost To India’s Fruit Exports

In a step towards diversifying India’s horticultural exports, Punjab has successfully shipped its first consignment…

3 hours ago