look news india
New Delhi: A team from the Commerce Ministry has reached Britain to resolve the pending issues of the proposed trade agreement between India and Britain. This could be the last attempt to resolve the proposed trade agreement before the Lok Sabha elections.
According to sources familiar with the matter, the election code of conduct may come into force as soon as the general elections are announced in India. Therefore, both the countries want to reach a Free Trade Agreement (FTA) before the implementation of the Election Code of Conduct in India.
British Prime Minister Rishi Sunak visited India last month. Britain's Chief Economic Advisor Douglas McNeil was also involved. During this, the proposed FTA and investment treaty was discussed.
If the talks do not reach an early conclusion then talks will take place after the general elections in India. It will also depend on the priorities of the new government. Elections in Britain are likely to be held in mid-2024 after the general elections in India.
Negotiations for a free trade agreement between India and Britain began two and a half years ago on January 13, 2022.
Some controversial issues were also discussed during this conversation. As Britain wants lower duties on vehicles including electric vehicles. Apart from this, Britain is exploring more opportunities in the field of telecommunication, legal and financial services in the Indian market.
