There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights.
There has been no break or let up in negotiations on the India-UK free trade agreement and the 13th round of talks that began in September still continues, a senior official said Thursday.
Talks on the 13th round have now moved to the virtual mode and negotiators are not working with a deadline, the official who did not wish to be named said.
India and UK launched the talks for free-trade agreement (FTA) in January 2022, with an aim to conclude talks by Diwali (October 24, 2022), but the deadline was missed due to political developments in the UK.
There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights.
The investment treaty is being negotiated along with the FTA as a separate agreement.
“Majority of chapters are closed or are in advanced stages of negotiations,” the official said.
While less contentious issues have been sorted out, protracted negotiations are still on issues of interest to India like greater access for its skilled professionals from sectors like IT, and healthcare in the UK market, besides market access for several goods at nil customs duties.
On the other hand, the UK is seeking a significant cut in import duties on goods such as scotch whiskey, automobiles, lamb meat, chocolates and certain confectionary items.
Britain is also looking for more opportunities for UK services in Indian markets in segments like telecommunications, legal and financial services (banking and insurance).
The UK has demanded national treatment for its services businesses and greater freedom to its professionals to operate in India during negotiations.
National treatment means treating foreigners and locals equally with regard to rules and regulations. It also means equal access to opportunities for overseas operators and not doing anything that puts them at a disadvantage.
Source:financialexpress.com