The UK and India have resumed free trade talks in Delhi after a year-long pause due to elections. UK Trade Secretary Jonathan Reynolds met with Indian Minister Piyush Goyal to progress discussions aimed at a balanced trade agreement. Key issues include tariffs on whisky and visa regulations, with negotiations having commenced amid renewed significance following US tariff actions.
The UK and India have reinstated free trade negotiations in Delhi after a year-long hiatus due to elections in both countries. On Monday, Jonathan Reynolds, the UK’s business and trade secretary, met with Indian counterpart Piyush Goyal to commence the discussions, which are set to span two days. Goyal emphasized the need for negotiations that result in a deal that is balanced, ambitious, and mutually beneficial.
Despite over a dozen rounds of talks since 2022, no agreement has yet been finalized. Key issues impeding progress include India’s high tariffs on Scotch whisky and the need for relaxed visa regulations for Indian students and professionals heading to the UK. These talks mark the first engagement since the Labour Party assumed power in the UK, with Reynolds stressing the importance of securing a deal as a priority for his government.
The resumption of trade talks between the UK and India signifies both countries’ aspirations for a stronger economic partnership. With potential benefits across various sectors, including manufacturing and clean energy, the focus remains on overcoming existing challenges. While timelines for an agreement remain unspecified, the strategic importance of the relationship aligns with India’s goal to enhance its export capacity by 2030, fostering mutual economic growth.
Original Source: www.bbc.com
