Indian government hopes to complete UK trade deal negotiations in two weeks

The Indian government aims to conclude negotiations on the proposed trade deal with the UK in the coming two weeks. The government is also considering trade pacts with other nations including Chile and Peru.

“In addition to trade, now we are looking at FTAs from the point of view if our strategic considerations,” said commerce secretary Sunil Barthwal to a group of reporters, TNN reported. “So, that is the fresh approach we are taking… Now, only a few issues are left. A team from the UK is coming for the (G20) Trade and Investment Group meeting (in Jaipur next week). We hope to close it when they visit.” 
 
Out of the 26 chapters of the proposed India-UK trade deal, 19 have been negotiated, according to Barthwal. Among the pending matters remain segments including intellectual property rights and investment among others, ET Bureau reported. Negotiations have been severely delayed as the government was initially hoping to have the agreement ready last year. 

The Indian government is also in talks with the Australian government with the aim of forming a Comprehensive Economic Cooperation Agreement with the country. India and the UAE have negotiated a CEPA and the territories have signed a memorandum of understanding to promote the use of their respective local currencies in bilateral trade.