Fta Talks News Today

The two sides have already held “substantial” discussions on matters related to goods and public procurements in previous rounds | Latest News India

The absence of any agreement on the carbon border adjustment mechanism (CBAM) casts a cloud over Indian steel exports to the region.

The Ministry of Commerce and Industry announced that the fourteenth round of Free Trade Agreement negotiations between India and the UK will take place in January 2024. The negotiations, which focused on complex issues like goods, services, and investment, will continue.

Indias main exports to the UK are ready-made garments and textiles, gems and jewellery, engineering goods, petroleum and petrochemical products, while key imports include precious and semi-precious stones, ores and metal scraps, and engineering goods. Discussions are also going on between the countries on the bilateral investment treaty. Investment is being negotiated as a separate agreement and earlier, the plan was to conclude the two simultaneously.

India and the UK launched the talks for FTA in January 2022, with an aim to conclude talks by Diwali last year, but the deadline was missed due to political developments in the UK. There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights.

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Talks have been sped up but a definite timeline not in place  

"Many things are moving very fast. Like rules of origin and bilateral investment treaty, there is a good progress. Negotiations are happening... Towards the end of the deal, it is the difficult issues which are to be closed and therefore it requires more time and more deliberations," Commerce Secretary Sunil Barthwal told reporters.

"Many things are moving very fast. Like rules of origin and bilateral investment treaty, there is a good progress. Negotiations are happening... Towards the end of the deal, it is the difficult issues which are to be closed and therefore it requires more time and more deliberations," Commerce Secretary Sunil Barthwal told reporters.

The twelfth round of negotiations took place from August 8-31.