New Delhi, March 25 (Agency) Moving a step closer to signing free trade pact and enhance market access for exporters from both sides, India and the UK have concluded the second round of talks. “A delegation of Indian officials undertook technical talks in London. The negotiations were conducted in a hybrid fashion, with some negotiators in a dedicated UK negotiations facility, and others attending virtually,” Commerce Ministry said in a statement.
For this round of negotiations, draft treaty text was shared and discussed across most chapters that will make up the agreement. As per the Ministry, technical experts from both sides came together for discussions in 64 separate sessions covering 26 policy areas. The proposed India-UK Free Trade Agreement (FTA) is expected to facilitate the target of doubling bilateral trade between India and the UK by 2030. Exports in leather, textile, jewellery, processed agri products and other labour-intenive sectors from India could see major boost following the trade agreement. Commerce and Industry Minister Piyush Goyal had earlier said that the two nations are exploring the possibility of an interim agreement to provide quick gains for businesses from both sides.