New Horizon: India and UK Revive Trade Talks Amid Economic Dialogue

India's Finance Minister Nirmala Sitharaman's visit to London seeks to advance discussions on the proposed India-UK free trade agreement and bilateral investment treaty. This move aims to resolve issues like dispute resolution and market access as both nations resume negotiations after an eight-month hiatus.

During her scheduled visit to London from April 8-10, India's Finance Minister Nirmala Sitharaman is set to reinvigorate talks surrounding the India-UK free trade agreement (FTA) and bilateral investment treaty (BIT). This engagement is seen as pivotal in enhancing economic ties between the two countries.

Emphasizing the significance of this visit, Sitharaman plans to partake in the India-United Kingdom Economic and Financial Dialogue alongside meetings with UK's Chancellor of the Exchequer Rachel Reeves and other British dignitaries. The agenda is to address standing issues, including dispute resolution and market access, crucial to advancing the FTA and BIT.

The resumption comes after a hiatus since January 2022, having had 14 rounds of discussions so far. India pushes for increased access for its goods and professionals in the UK market, while Britain seeks reduced duties on key exports like scotch whiskey, electric vehicles, and financial services, signaling mutual investment growth potential.

(With inputs from agencies.)