India-UK Trade Talks: Navigating Complex Agreements

India and the UK are engaged in complex trade negotiations, including a free trade agreement and bilateral investment treaty. Key issues include dispute resolution mechanisms, market access for goods, and investment protections. Finance Minister Nirmala Sitharaman is meeting UK counterparts to advance discussions.

During her three-day visit to London, Finance Minister Nirmala Sitharaman is set to address issues related to the proposed Free Trade Agreement (FTA) and bilateral investment treaty between India and the UK. Official sources confirm that these discussions are a focal point of the minister's agenda.

The India-UK Economic and Financial Dialogue in London will host a series of meetings, including bilateral talks between Sitharaman and the UK's Chancellor of the Exchequer Rachel Reeves. Although the Union Commerce Ministry oversees FTA negotiations, issues impacting financial services and the investment treaty fall under the purview of the Finance Ministry.

The trade talks, which resumed after an eight-month hiatus, have already gone through 14 rounds of negotiations. Vital points of contention include dispute resolution in the investment treaty and access to markets for various goods and services. The bilateral trade between the two nations reached USD 21.34 billion in 2023-24, with the UK being a significant investor in India.

(With inputs from agencies.)