India-UK FTA talks: Both sides seek to bridge gaps to close deal expeditiously

New Delhi: India and the UK would seek to bridge the differences for expeditious conclusion of the proposed free trade agreement as Britain has announced resuming the negotiations early next year, an official statement said on Wednesday.

British Prime Minister Keir Starmer has announced that trade talks with India will relaunch in the new year, following his bilateral meeting with Prime Minister Narendra Modi at the G20 Summit in Brazil.

Starmer and Modi met on the sidelines of the summit in Rio de Janeiro on Monday, after which Downing Street said the UK will seek a new strategic partnership with India, including a trade agreement.

The India-UK talks for the proposed FTA began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles.

"We welcome the announcement by the UK to relaunch the India-UK free trade talks in the new year," the commerce ministry said.

Noting the importance for securing a balanced, mutually beneficial and forward looking FTA, it said, India looks forward to closely working with the UK's negotiating team to address remaining issues to mutual satisfaction.

The dates would be finalised through diplomatic channels soon.

"The FTA talks would resume the discussions from the progress achieved previously and seek to bridge the gaps for expeditiously closing the trade deal," it added.