Key Points
India and the UK are 'very close' to concluding negotiations for a proposed free trade agreement as both sides are working to iron out differences on issues including investment treaty, intellectual property rights (IPRs), and rules of origin, a senior government official said on Friday...
The 'rules of origin' provision prescribes minimal processing that should happen in an FTA country so that the final manufactured product may be called originating goods in that country...
Under this provision, a country that has inked an FTA with India cannot dump goods from some third country in the Indian market by just putting a label on it..
India's main exports to the UK are ready-made garments and textiles, gems and jewellery, engineering goods, petroleum and petrochemical products, transport equipment, spices, machinery and instruments, pharmaceuticals and marine products...
Under such pacts, two trading partners significantly reduce or eliminate customs duties on the maximum number of goods traded between them, besides easing norms to promote trade in services and investments...
You might be interested in
India, UK free trade agreement: 12th round of talks from Aug 7
02, Aug, 23India and the UK are close to finalizing a free trade agreement (FTA), with the 12th round of talks set to take place in August. The talks are expected to cover issues such as investment, reduced duties on autos and whiskey, and trade in services. Of the 26 chapters in the proposed FTA, 19 have been agreed, while a separate agreement on bilateral investment is also being negotiated.
Commerce secretary Sunil Barthwal visiting UK for FTA talks
16, Jul, 23With the FTA negotiations gaining momentum, the visit aims to further propel the discussions and pave the way for a comprehensive and mutually beneficial agreement that would drive economic growth and strengthen ties between the two countries.
India-UK FTA: British delegation to arrive Monday for concluding round of talks
21, Jan, 24The UK delegation includes high-ranking government officials who will look to resolve some sticky issues in the final deliberations
WTO meet: India, South Africa to block proposal led by China
21, Feb, 24India Business News: India and South Africa oppose China's proposal for an investment facilitation agreement at the WTO. They reject the inclusion of decisions made outsid
High-level India-EU meetings this month to boost FTA talks
06, Aug, 23India and the 27-nation bloc resumed negotiations on June 17 last year after a gap of over eight years on the proposed agreements on trade, investments and Geographical Indications (GI). India had started negotiations for a trade pact with the EU in 2007, but the talks stalled in 2013 as both sides failed to reach an agreement on key issues, including customs duties on automobiles and spirits and the movement of professionals.
India, European trade bloc close to inking deal after 16 years of talks
22, Jan, 24India Business News: European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland, and Liechtenstein, is close to signing a trade agreement with India.
India very close to a final call on FTA with UK: FM Sitharaman
25, Aug, 23An FTA agreement is very close for a final call with the UK and I think negotiations with Canada are also progressing and I expect that to come to a conclusion sooner than later, Sitharaman said. She further said the finance ministry and commerce ministry are working closely on trade agreements with different countries.
PMO reviewed UK free trade agreement last week
19, Feb, 24India is headed for general elections in April-May while polls in the UK are to take place by January next year. While most of the 26 chapters of the pact, dealing with the opening up of varied sectors, are either closed or at an advanced stage of negotiations, some issues related to rules of origin and market access remain unresolved.
British delegation to start next round of India-UK FTA talks on Monday
08, Oct, 23India Business News: A 30-member official delegation from the UK will start the next round of negotiations for a free trade agreement with the Indian team here from Monday
More delay in India-UK FTA, India 'struggling to differentiate between what it needs & wants'
18, Oct, 23The free trade agreement between India and the United Kingdom is facing further delays due to disagreements, particularly regarding trade in goods and services. India is struggling to differentiate between its wants and needs in the negotiations. The two countries were expected to sign the proposed agreement at the end of this month, but progress has slowed.