During the yearly UK-India Strategic Dialogue held here, India and the United Kingdom reiterated their commitment to finalizing a mutually beneficial free trade agreement (FTA) in light of the “good progress” made on the 2030 Roadmap since the last review.
On Friday, Foreign Secretary Vinay Kwatra, who is now visiting the UK, had talks with Permanent Under-Secretary Sir Philip Barton at the Foreign, Commonwealth and Development Office (FCDO).
Following their discussion, the FCDO reported that the two leaders discussed the next stage of bilateral cooperation as well as the progress made on the UK-India 2030 Roadmap since the last strategic dialogue in January of last year.
“The two noted important areas where the UK and India have collaborated to address some of the world’s biggest challenges, reflecting on the good progress on the 2030 Roadmap since the last review,” the FCDO said in a statement.
According to the statement, “this included working closely on India’s successful G20 Presidency, collaborating on the development of the first malaria vaccine, and expanding opportunities for students and entrepreneurs under the Migration and Mobility Partnership.”
It said, “This year’s dialogue included the ongoing commitment to negotiate a mutually beneficial free trade agreement (FTA) and enhance defense cooperation, in addition to celebrating the milestones since the last review.”
Previously, the Indian High Commission in London announced that Kwatra also had a “fruitful meeting” with James Cartlidge, the UK Minister of State for defense Procurement, whereby they deliberated on current defense capability cooperation projects between India and the UK as well as potential possibilities for future collaboration.
Lord Tariq Ahmad, FCDO Minister for South Asia, said of his meeting with Indian Foreign Secretary Kwatra, “We are delighted to host Indian Foreign Secretary Kwatra in London to underline the UK’s commitment to deepening cooperation with India.” According to his office, the meeting covered the FTA, migration, and the Commonwealth.
He continued, “I look forward to our partnership growing stronger as we collaborate on trade, defense, the environment, and health.”
India and the UK signed the 2030 Roadmap in 2021, which outlines agreements to strengthen cooperation by that time in the areas of science and technology, trade, health, education, and defense.
Thirteen rounds of FTA talks have taken place between India and the UK. The fourteenth cycle commenced in January.
The agreement is divided into 26 chapters covering investments, products, services, and intellectual property rights.
In addition to market access for various commodities at zero customs tax, the Indian industry is asking increased access for its trained people from industries like IT and healthcare in the UK market.
Conversely, the UK is requesting a large reduction in import taxes on products like electric cars, lamb, chocolate, and some candies, as well as scotch whiskey.
Additionally, Britain is searching for more chances to offer UK services in Indian markets, particularly in the areas of financial services (banking and insurance), legal services, and telecommunications.
India and the UK’s bilateral trade grew from USD 17.5 billion in 2021–2022 to USD 20.36 billion in 2022–2023.
