Top Government officials have disclosed that negotiations for the proposed India-UK free trade agreement are nearing completion, with both parties diligently addressing remaining issues, as per reports.
L Satya Srinivas, the Additional Secretary for the Commerce Ministry, emphasised that high-level involvement and conversations have progressed to a point where disagreements need to be resolved.
Apart from trade negotiations, there is a separate pursuit of an investment treaty between India and the UK. The amount of bilateral trade between the two nations increased, from US $ 17.5 billion in the previous fiscal year to US $ 20.36 billion in 2022–2023. India’s main exports to the UK are textiles and ready-made clothing.
The Ministry also provided information regarding the seventh round of negotiations for the free trade agreement between India and the European Union (EU), which is set to take place from 19th-23rd February.
