A country’s economic development is closely linked to its trade relations with other countries. In the age of globalization, free trade routes allow countries to rapidly change the economic scenario of a place and create competition that can benefit both the country and consumer. India and the United Kingdom have had friendly and cooperative relationships in the past few years after Rishi Sunak became the Prime Minister.
India and UK are now planning to head forward with their proposal of free trade agreement and the contingents from both the countries are having regular meets for the same. The Indian negotiation team has gone to London for the advanced stage of negotiation for the India-UK Free Trade Agreement (FTA).
There has been tremendous progress since the 14th round of negotiation that took place in January 2024. A team from the UK came to India to continue the talks between 5th and 7th March.
As per the reports, most of the challenging issues for the FTA are progressing towards resolution. India is also in talks with the European Union (EU) and Peru for similar free trade agreements. With the EU, the government has held 7 rounds of negotiations so far. The next round is scheduled for May, 2024.
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