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India and the UK are resuming FTA talks, focusing on boosting trade and investment through market access and reduced tariffs.

India-UK to resume FTA talks on February 24, focus on trade, investments, and market access

India and the UK resume Free Trade Agreement negotiations to boost bilateral trade and investment. Focus areas include market access, reducing tariffs, and increasing foreign investment, especially in insurance.

Negotiations for the long-awaited free trade agreement (FTA) between India and the UK set to restart, aiming to boost bilateral trade and economic cooperation.
India and the United Kingdom are expected to resume talks for the proposed Free Trade Agreement (FTA) from February 24, as both nations look to strengthen bilateral trade and investment ties, a senior official confirmed. The discussions had stalled after the 14th round, primarily due to the general election cycles in both countries.
UK Trade Minister to Visit India for Key Discussions
The UK Trade Minister is expected to visit New Delhi soon to accelerate negotiations, which began in January 2022. The proposed agreement is designed to enhance market access, reduce tariffs, and facilitate investments between the two economies.
What the FTA Aims to Achieve
A free trade agreement typically involves eliminating or significantly reducing customs duties on most goods traded between the two countries. It also includes easing trade norms for services and bilateral investments, encouraging smoother economic ties.
Key Demands from Both Sides
 India&rsquo;s Priorities
Greater access for Indian skilled professionals in the UK market, particularly in IT and healthcare. Market access for several Indian goods at zero customs duty.
 UK&rsquo;s Demands
Significant reduction in import duties on British products like scotch whiskey, electric vehicles, lamb meat, chocolates, and confectionery. More access for UK service sectors in India, particularly in telecommunications, legal, financial services, banking, and insurance.
 Push for Higher FDI in Insurance to Aid FTA Talks
The negotiations are expected to gain momentum after Finance Minister Nirmala Sitharaman proposed raising the foreign investment cap in the insurance sector to 100% during the Union Budget 2025-26 presentation. The move is part of India&rsquo;s next-generation financial sector reforms, potentially aligning with UK&rsquo;s interests in the Indian insurance market.
Ongoing Negotiations for Bilateral Investment Treaty (BIT)
Alongside the FTA, both nations are working on a Bilateral Investment Treaty (BIT) to facilitate smoother and more secure investments. The FTA consists of 26 chapters, covering goods, services, investments, and intellectual property rights.
&nbsp;Bilateral Trade Growth Between India and UK Trade relations between the two nations have been on the rise:
 &nbsp;2023-24: USD 21.34 billion &nbsp;2022-23: USD 20.36 billion
With discussions resuming, both India and the UK aim to finalize a comprehensive trade agreement that will strengthen economic ties and promote growth across multiple sectors.

 India and Germany ink mobility pact, discuss key global challenges

 India, Germany sign mobility pact to bolster ties: key global issues also discussed

The mobility partnership pact will make it easier for people to study, do research and work in each other's country

The mobility partnership pact will make it easier for people to study, do research and work in each other's country

India and Germany on Monday inked a mobility partnership pact and held comprehensive discussions on key global challenges including the Ukraine conflict, the situation in Afghanistan and cross-border terrorism emanating from Pakistan.
At a media briefing after talks with his German counterpart Annalena Baerbock, External Affairs Minister S Jaishankar said the mobility pact will make it easier for people to study, do research and work in each other's country and is a strong signal for a more contemporary bilateral partnership.
Jaishankar also strongly defended India's import of crude oil from Russia and noted that it is largely driven by market forces.
Also watch:<a href="https://www.editorji.com/world-news/germany-annoyed-by-ventilator-s-sound-woman-switches-off-co-patient-s-life-saving-device-1669964004039">Germany: annoyed by ventilator's sound, woman switches-off co-patient's life saving device</a>
From February to November, European Union has imported more fossil fuel from Russia than the next 10 countries combined, he said in a sharp retort to a question on why India has been procuring crude oil from Russia.
The German foreign minister arrived this morning on a two-day visit to discuss ways to further expand bilateral cooperation in a range of areas including energy, trade, defence and security and climate change.
At the joint media briefing, Jaishankar said that India's position on the Ukraine issue is clear that this is not an era of war and the conflict should be resolved through dialogue.
The visiting German foreign minister described India as a role model for many countries and noted that Berlin wants to bolster its security cooperation with New Delhi.
Asked about challenges facing the region from China, Baerbock said there is a need to assess the threats while describing Beijing as a competitor and rival in many ways.
"We now know what happens when a country becomes too dependent on another that doesn't share the same values," Baerbock said.
Jaishankar said the situation in Afghanistan and cross-border terrorism emanating from Pakistan figured in the talks.
He asserted that there can't be talks with Pakistan if it continues cross-border terrorism.
Earlier in a statement, the German foreign minister described India as Germany's "natural partner" and said that the country will have a decisive influence in shaping the international order in the 21st century.
"The Indian government has set itself ambitious goals not only in the G20 but also at home for its own people. When it comes to expanding renewable energies, India wants to push ahead with the energy transition more than before. Germany stands by India's side," she said.
The dramatic effects of the climate crisis affect us all, destroying livelihoods in Europe as well as in India, the visiting German minister said.
"That we want to strengthen our economic, climate and security policy cooperation with India beyond our strategic partnership, are not empty words," she stressed.&nbsp;

Amid tension between India and China over Beijing's military aggression in Ladakh, America seems to gaining. The United States overtook China to become India's top trade partner in 2021-22.
In FY22, India and USA's bilateral trade stood at $119.42 billion compared to $115.42 billion between India and China.
India's exports to US rose to $76.11 billion in 2021-22 from $51.62 billion in 2020-21. At the same time, imports from US to India rose to $43.31 billion from $29 billion in 2020-21.
India's exports to China increased to $21.25 billion in 2021-22 from $21.18 billion in 2020-21. Imports from China to India rose to $94.16 billion from $65.21 billion in 2020-21.
The sharp rise in imports from China continues despite India's perceived push to move away following the Ladakh tension.
India has a trade surplus with the US, but a trade deficit with China. This means that India exports more to the US than it imports, but vice versa with China.

USA beats China to become India's top trade partner, but Chinese imports rise even amid Ladakh tension

Amid tension between India and China over Beijing's military aggression in Ladakh, America seems to gaining.

Amid tension between India and China over Beijing's military aggression in Ladakh, America seems to gaining. The United States overtook China to become India's top trade partner in 2021-22.
In FY22, India and USA's bilateral trade stood at $119.42 billion compared to $115.42 billion between India and China.
India's exports to US rose to $76.11 billion in 2021-22 from $51.62 billion in 2020-21. At the same time, imports from US to India rose to $43.31 billion from $29 billion in 2020-21.
India's exports to China increased to $21.25 billion in 2021-22 from $21.18 billion in 2020-21. Imports from China to India rose to $94.16 billion from $65.21 billion in 2020-21.
The sharp rise in imports from China continues despite India's perceived push to move away following the Ladakh tension.
Also watch:&nbsp;<a href="https://www.editorji.com/india-news/on-india-trip-bangladesh-minister-says-this-about-china-amid-criticism-of-beijing-over-sri-lanka-crisis-1653738514864" target="_blank">On India trip, Bangladesh minister says this about China, amid criticism of Beijing over Sri Lanka crisis</a>
India has a trade surplus with the US, but a trade deficit with China. This means that India exports more to the US than it imports, but vice versa with China.

bilateral trade

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