{"id":160638,"date":"2022-01-11T22:51:50","date_gmt":"2022-01-11T17:21:50","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=160638"},"modified":"2022-01-12T15:57:02","modified_gmt":"2022-01-12T10:27:02","slug":"things-to-watch-for-as-india-uk-launch-fta-talks","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/things-to-watch-for-as-india-uk-launch-fta-talks\/","title":{"rendered":"Things to watch for as India, UK launch FTA talks"},"content":{"rendered":"
What is the News?<\/b><\/h5>\n

India and the UK will start active consultation to finalize a Free Trade\u200a Agreement\u200a(FTA).<\/span><\/p>\n\n\n\n
Must Read:<\/b> What is a Free Trade Agreement(FTA)<\/b><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
Why is the FTA with the UK important for India?<\/b><\/h5>\n
\"India
Source: Livemint<\/figcaption><\/figure>\n

India-UK FTA will be critical for India at a time when the country has walked out of key FTAs such as the Regional Comprehensive Economic Partnership(RCEP)<\/a><\/strong>.<\/span><\/p>\n

Moreover, India has rolled out an aggressive Atmanirbhar Bharat plan, which aims to make it an export powerhouse with $1 trillion exports by 2030. So fewer trade barriers with the UK could give a push to exporters.<\/span><\/p>\n\n\n\n
Read more: India, UK aim to launch FTA negotiations by November 1<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
What does India-UK want in the FTA?<\/b><\/h5>\n

India:<\/b> It wants enhanced mobility for its professionals and a reduced fee for work and tourism visas, safeguards for agriculture, better market access for vaccines, basmati rice, wool, yarn, instant coffee and tea premix among others.<\/span><\/p>\n

UK:<\/b> It wants the ease of doing business, removal of tariffs of up to 150% on whisky and 125% on British-made cars. Also, removal of barriers to trade in services, food and drink, healthcare and medical devices.<\/span><\/p>\n

What are India\u2019s views on Multilateral Trade?\u00a0<\/b><\/h5>\n

India remains committed to trade multilateralism, with the World Trade Organisation (WTO)<\/a><\/strong> at its centre.<\/span><\/p>\n

It has also renewed its efforts to strike bilateral trade deals with key countries. India believes exports could be further strengthened through an extensive set of preferential trade agreements.<\/span><\/p>\n

Further, more FTAs will give Indian products more access to global markets and the opportunity that India missed by staying out from the RCEP.<\/span><\/p>\n

What about India\u2019s FTA with other countries?<\/b><\/h5>\n

India is close to finalizing one FTA with the United Arab Emirates (UAE)<\/a>. Talks are at an advanced stage with Australia on an interim agreement.\u00a0<\/span><\/p>\n

India is also in negotiations with Israel and hopes to launch discussions with Canada on the same in two or three months.<\/span><\/p>\n

Source: <\/b>This post is based on the article<\/span> \u201cThings to watch for as India, UK launch FTA talks\u201d<\/b> published in <\/span>Livemint <\/b>on<\/span> 11th January 2022.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

What is the News? India and the UK will start active consultation to finalize a Free Trade\u200a Agreement\u200a(FTA). Must Read: What is a Free Trade Agreement(FTA) Why is the FTA with the UK important for India? India-UK FTA will be critical for India at a time when the country has walked out of key FTAs… Continue reading Things to watch for as India, UK launch FTA talks<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164,9],"tags":[10501],"class_list":["post-160638","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","category-public","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704940491},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/160638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=160638"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/160638\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=160638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=160638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=160638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}