‘India-UK trade pact issues to resolve after polls in UK’

The issues pertain to duties in sectors such as electric vehicles, liquor, and services. The UK’s general election is scheduled for July 4 this year.
Image used for representational purposes only.
Image used for representational purposes only.

NEW DELHI: The pending issues relating to the long-awaited free trade agreement (FTA) between India and the UK will be sorted following the general elections in Britain, according to a government official.

The issues pertain to duties in sectors such as electric vehicles, liquor, and services. The UK’s general election is scheduled for July 4 this year.

Separately, Prime Minister Narendra Modi held a bilateral meeting with UK Prime Minister Rishi Sunak on the sidelines of G7 Summit in Apulia, Italy. “… I reiterated my commitment to strengthen the India-UK Comprehensive Strategic Partnership in third term of the NDA govt. There is great scope to deepen ties in sectors like semiconductors, technology and trade. We talked about further cementing ties in the defence sector,” Modi tweeted.

According to additional secretary in the Department of Commerce L Satya Srinivas, the eight round of talks on India-EU FTA will be held from June 24-28 in Brussels. Another senior government official said this time EU has more willingness to look at India’s perspective in the deal in a favourable manner. He added that other countries which India is dealing with for FTAs are looking at the China-plus story and it is quite evident during the talks.

In addition the official said that the companies have begun reporting carbon emissions data with the EU. Domestic companies engaged in carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, had to share data with the EU from October 1, 2023.

Furthermore, the proposed FTA with Oman, is being discussed and it is moving towards conclusion. He informed that both countries have some reservations with India having issues related to the petrochemicals sector. Oman is looking for duty concessions on petrochemicals products such as polypropylene and polyethylene, used in the plastics industry.

EVs, liquor, services some sticking issues

The issues pertain to duties in sectors such as electric vehicles, liquor, and services. The UK’s general election is scheduled for July 4 this year. Separately, Prime Minister Narendra Modi held a bilateral meeting with Britain’s Prime Minister Rishi Sunak on the sidelines of the G7 Summit in Apulia, Italy.

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