India and the United Kingdom (UK) have concluded the first round of negotiation, as part of an ambitious Free Trade Agreement (FTA) between the two nations, according to a statement released by the commerce and industry ministry on Friday.
During this round of negotiations, draft treaty text was shared and discussed across most chapters that will be a part of the agreement. Technical experts from both sides came together for discussions in 64 separate sessions covering 26 policy areas. “A delegation of Indian officials undertook technical talks in London. The negotiations were conducted in a hybrid fashion, with some negotiators in a dedicated UK negotiations facility, and others attending virtually,” the statement said. The third round of negotiations will be hosted by India in April 2022.
India and the UK had in January formally launched negotiations and FTA with an aim to first complete an interim agreement by mid-April and subsequently a comprehensive deal by the end of the year. The interim agreement will include tariff liberalisation in 60-65 per cent of traded goods, while the final deal will include more than 90 per cent of the items. Among 160 service lines, 50-60 will be included in the interim agreement while the final agreement will have a much larger scope.
