india uk fta

Global powers are now vying for India's attention, recognizing its growing influence. While the US seeks to bolster trade, India has been actively forging significant trade agreements, positioning itself as a reliable and indispensable partner in a shifting geopolitical landscape.

Jaguar Land Rover India has slashed prices on UK-built Range Rover models, passing on Free Trade Agreement benefits. The Range Rover SV now costs Rs 75 lakh less, starting at Rs 3.50 crore, while the Range Rover Sport SV sees a Rs 40 lakh reduction. This move makes these luxury SUVs more accessible, with updated pricing effective immediately.

India and New Zealand have signed a 'once-in-a-generation' trade pact, granting Indian exporters duty-free access to New Zealand. The agreement aims to double bilateral trade to $5 billion in five years and includes a $20 billion investment commitment from New Zealand. Both nations are optimistic about the pact's potential to boost economic growth and cooperation across various sectors.

Even as it is confident of India’s ability to come out of the fresh global uncertainty, RBI has flagged five risks due to the US-Iran war that could negatively impact the economy.

The timing of the india uk fta can’t be better when India is also expecting to close the bilateral trade discussions with the US government. Signing of a series of new FTAs underline the success of India’s foreign policy and trade policy working together.

INDIA-BRITAIN-India, UK could sign trade deal this year -commerce official

UK Opposition Leader Keir Starmer has compared the UK government's negotiations for a free trade agreement (FTA) with India to the Bollywood movie 'Kabhi Khushi Kabhie Gham', meaning sometimes happy, sometimes sad. Starmer expressed the Labour Party's commitment to a strong bilateral relationship with India based on shared values. The FTA talks began in January last year, and while no new timelines have been set, both sides are eager to finalize the agreement before the general elections in both countries in 2024. The Labour Party sees reaching out to the Indian diaspora electorate as crucial.

India-UK FTA will increase our exports modestly but severely impact digital and climate sectors

The India-UK Free Trade Agreement is set to significantly benefit India's textile sector. Industry leaders anticipate increased exports and a stronger presence in the UK market. The agreement will create new opportunities for exporters and boost employment. Reduced tariffs are expected to drive demand for Indian textiles. Investment and ease of doing business are also likely to improve.

Senior officials from British Prime Minister Rishi Sunak's team are in New Delhi this week to add momentum behind the ongoing round of negotiations for an India-UK free trade agreement (FTA), according to a UK media report on Saturday. 'The Guardian' newspaper reports that while there is no official comment from either side on such a visit, Prime Minister Narendra Modi-led government is keen to finalise the FTA by the end of February before Sunak sets off on an expected general election campaign trail.

Commerce Minister Piyush Goyal hailed the newly signed India-UK FTA as a "game-changing" agreement, offering significant opportunities for Indian farmers, businesses, and youth. The comprehensive FTA, awaiting UK Parliamentary approval, aims to eliminate duties on 99% of Indian exports to the UK.

The India-UK FTA is poised to significantly boost India's textile exports by eliminating the 8-12% UK import duty. This levels the playing field with competitors and is expected to improve margins and drive scale for Indian exporters by FY27. The agreement, coupled with other supportive factors, enhances India's reputation and supports long-term growth in the textile industry.

India's trade surplus with the UK has slightly increased over the last decade, and the new Free Trade Agreement is poised to significantly boost trade between the two nations. The FTA is expected to eliminate tariffs on 99% of Indian exports and reduce tariffs on 90% of Indian imports, creating new opportunities across various sectors and enhancing economic cooperation.

India and the UK are negotiating an FTA since Jan 13, 2022. Recently, the Indian team visited UK (April 16-19, 2024) for negotiations on outstanding issues. Subsequently, another services team also visited UK from May 8 to 10 to discuss outstanding issues in 'services track'.

The India-UK Free Trade Agreement features a new 'coequal' rule. This rule impacts product origin norms. It provides producers more flexibility. It also ensures stricter checks against tariff concession misuse. The agreement includes digital exchange of origin certificates. This will streamline processes. India anticipates zero-duty access for 99% of its exports to the UK.

During Johnson's visit, he is expected to sign agreements across other sectors, including defence, security and education

With European Union and the UK clinching a post-Brexit trade pact, India should now aggressively pursue free trade agreements (FTAs) separately with both the regions, according to experts.

India and the United Kingdom (UK) formally launched free trade agreement talks in New Delhi on Thursday with the aim of wrapping up a deal by the end of the year that could boost annual bilateral trade by billions of pounds.

The two leaders also agreed to deepen bilateral cooperation across a wide range of areas such as trade and investment and science and technology.Modi and Sunak met on the sidelines of the summit of the G7 advanced economies here in Hiroshima.

The ongoing negotiations of India for the proposed comprehensive free trade agreements with the UK and European Union (EU) are on track and the next round of talks with both the regions will happen soon, a top government official said on Monday.