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Published
Oct 21, 2022
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India-UK trade deal on track but will miss deadline, says government official

Published
Oct 21, 2022

India and the UK are expected to reach an agreement on the planned trade deal between the two nations. Although the previous target date of Diwali, October 24, will be missed, they are on track to conclude soon, a government official told the Press Trust of India.

An India-UK FTA could boost India's textile and apparel export sector considerably


“So, we are moving in the right direction,” said Commerce Secretary Sunil Barthwal on the sidelines of the Confederation of Indian Industry’s recent National Exports Summit, the Press Trust of India reported. “Negotiations are on. We are on track… we are moving forward very well and expect that soon we will be able to reach an agreement.” 
 
India and the UK first launched trade talks with a view to creating a trade deal in January this year. The aim of the agreement is to boost bilateral trade across multiple industries and promote investments and services trade. 

The countries are working out how to eliminate or reduce customs duties on goods traded to boost exports from both nations. Although negotiators have finalised a number of aspects of the deal, many are yet to be set, according to Barthwal. A new target date for completion of the trade agreement is yet to be announced. 

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