India and the UK will restart FTA negotiations in early 2025 to finalize a mutually beneficial trade deal, following a meeting between Prime Minister Modi and Prime Minister Starmer. Discussions will address issues such as trade concessions, visa norms, and the extradition of economic offenders. The partnership aims to enhance economic, technological, and cultural ties between the two nations.
India and the United Kingdom are set to resume discussions on a Free Trade Agreement (FTA) early next year, following a recent meeting between Prime Minister Narendra Modi and UK Prime Minister Keir Starmer at the G20 Summit in Rio de Janeiro. This decision comes after a hiatus due to elections in both countries and aims to resolve outstanding issues to establish a balanced and progressive trade deal. Modi emphasized the significance of their comprehensive strategic partnership, while Starmer noted that the new trade deal would promote job growth and economic prosperity in the UK.
The relationship between India and the UK has historically included strong trade ties, with discussions on a Free Trade Agreement commencing in January 2022. Recent political changes, including Modi’s re-election and Starmer’s rise to power, have temporarily paused negotiations. The FTA aims to enhance trade flows, address visa protocols and immigration policies, and facilitate the extradition of individuals involved in financial misconduct. The strategic dialogue encompasses security, technology, defense, and bilateral economic initiatives, reflecting both nations’ commitment to advancing their partnership.
The planned resumption of FTA negotiations between India and the UK marks a significant step towards enhancing their comprehensive strategic partnership. As both countries aim to resolve key issues surrounding trade, migration, and extradition, the renewed dialogue highlights their shared objectives of economic growth and collaboration in various sectors. The establishment of consulates in Belfast and Manchester further underscores India’s commitment to strengthening ties and supporting its expatriate community in the UK.
Original Source: www.hindustantimes.com
