India- UK free trade agreement talks near completion

Talks between the UK and India to formulate a free trade agreement are nearing completion, according to Indian government officials. Authorities from both nations have been discussing the FTA for over two years with the aim of securing a deal to boost bilateral trade. 

Additional secretary at the Ministry of Commerce and Industry L Satya Srinivas reported that conversations with involvement from high-level politicians have now progressed to a point where the last disagreements need to be resolved, Apparel Resources reported. Previous sticking points included the Indian demand for greater visa reciprocity with the UK, which UK officials were against. 
 
The FTA is designed to streamline trade between India and the UK and many Indian businesses are hoping it will enable them to increase exports to the UK with favourable rates. In the past few years, India has signed a number of FTAs, including with the UAE and Australia, with the aim of boosting its exports. 

India is also in the process of creating a separate investment treaty with the UK to strengthen trade ties. India’s main exports to the UK include ready-to-wear clothing and textiles so any agreement reached will be a boon to India’s fashion industry. 
 
Indian authorities also began the seventh round of talks with representatives from the European Union concerning a proposed trade deal on February 19. The talks are schedules to run until February 23.