FTA
India-UK close on Free Trade Agreement but few tough points remain: British Minister
London: Britain's Business and Trade Secretary Kemi Badenoch, overseeing the free trade agreement (FTA) negotiations with India, informed a parliamentary committee that India and the UK are on the verge of finalizing a mutually advantageous trade deal, but the remaining points of contention are the most challenging, media reports said.
Badenoch provided these insights during her appearance before the House of Commons Business and Trade Committee, which monitors the activities of the Department of Business and Trade (DBT).
She was questioned about the timeline for concluding the FTA, which has undergone 12 rounds of discussions.
The cabinet minister specifically addressed certain UK media reports suggesting that Prime Minister Rishi Sunak, an avid cricket enthusiast, might be considering a return visit to India next month to formalize the agreement alongside the World Cup festivities taking place across the nation.
Badenoch maintained that a deadline was never set, adding that such an approach gives rise to several problems.
She pointed out that the deal and not the day was important and will be reached when the conditions mutually beneficial to India and the UK are agreed upon.
According to official UK Department of Business and Trade figures, UK-India bilateral trade was worth an estimated GBP 36 billion in 2022 -- a figure expected to be significantly boosted with an FTA.
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