UK-India FTA Talks Intensify With Tariff Cuts & Auto Sector Access On Agenda

ENA Sectors 2024-02-19 16:27:22 New Delhi, Feb 19 (KNN) With less than a month remaining before the expected announcement of general election dates and the initiation of the Model Code of Conduct (MCC), negotiations for the UK-India Free Trade Agreement (FTA) are intensifying. While the signing of the deal before the elections seems unlikely due to the MCC cut-off, both sides are actively addressing remaining points of contention, as reported by The Indian Express. Review meetings, including one at the Prime Ministers Office (PMO) on February 16, indicate a high level of engagement. Commerce and Industry Minister Piyush Goyal and Commerce Secretary Sunil Barthwal participated in the discussions, reflecting the importance attached to the FTA. A UK government official, speaking anonymously to The Indian Express, expressed optimism about the deal's potential signing within the next three weeks. India's tariff regime has been a point of concern for its trade partners, with significantly higher import tax rates than many countries. Negotiations have focused on areas such as reducing duties on cars and whisky for the UK, while India seeks improved access for its service sector workforce. Contentious discussions have arisen, particularly concerning Indian whisky manufacturers' call for easing the UK's three-year maturation rule. Additionally, India is pushing for duty concessions in the auto sector, especially in the electric vehicle (EV) segment. (KNN Bureau) 36742 https://knnindia.co.in/news/newsdetails/sectors/uk-india-fta-talks-intensify-with-tariff-cuts-auto-sector-access-on-agenda 2024-02-19 16:27:22 knnindia.co.in UK-India FTA Talks Intensify With Tariff Cuts & Auto Sector Access On Agenda