India’s negotiation team is currently in the United Kingdom for the advanced stage of discussions on the India-UK Free Trade Agreement (FTA).
Government sources reveal that substantial progress has been made following the completion of the 14th round of negotiations in January 2024.
India-UK….
Recently, a UK delegation visited India from March 5th to 7th to continue advanced talks on pending matters. While most challenging issues are close to resolution, both sides are focusing on key priorities for a balanced outcome.
Apart from the UK, India is actively involved in trade negotiations with the European Union (EU) and Peru to strengthen economic ties.
The India-EU FTA recently completed its 7th round of negotiations in February 2024, with efforts underway to address key issues before the 8th round in May 2024.
Additionally, negotiations with Peru for a bilateral trade agreement are progressing. The recent 7th round of talks covered various areas, including Trade in Goods, Trade in Services, and Dispute Settlement.
Notably, significant progress has been made in Customs Procedures and Trade Facilitation.
The next round of negotiations between India and Peru is expected in June, reflecting the growing bilateral trade relationship.
Stakeholders on both sides remain optimistic about deepening economic cooperation and unlocking new trade and investment opportunities.
Bilateral trade between India and Peru has seen remarkable growth over the past two decades, reaching approximately $3.68B in 2023 from $66M in 2003. As negotiations advance, prospects for enhanced economic ties between the nations are promising.