India-UK FTA still hanging in balance
Hopes of signing a free trade agreement (FTA) between India and UK before the scheduled Cricket World Cup match between the two nations on 29th october, have dimmed. This was reported in a British news publication, 'The Financial Times.'
Hopes of signing a free trade agreement (FTA) between India and UK before the scheduled Cricket World Cup match between the two nations on 29th october, have dimmed. This was reported in a British news publication, ‘The Financial Times.’ British Prime Minister Rishi Sunak was expected to attend this match.
The newspaper quoting officials said that there has been insufficient progress in opening the Indian market for British professional services in the legal and accounting sectors. This has cast doubt on the likelihood of concluding the India-UK FTA negotiations in the 13th round of talks.
It was earlier suggested that after his first visit to India as British Prime Minister for the G-20 summit last month, cricket enthusiast Sunak might return to India to watch the India-England match. However, the prospects for his India trip have now diminished considerably.
Another official stated, “The Prime Minister has said that he will not sign a trade deal hastily. He is going to do the right thing for the country.”
During his September visit to India, Sunak told reporters that he would not rush into anything.
After the trip, he had mentioned in British Parliament’s House of Commons, “There was a good and meaningful discussion on strengthening relations between both countries in the fields of defence, technology, and FTAs with Prime Minister (Narendra) Modi.”
Controversy had been brewing for weeks regarding his second trip to the country soon after his first. However, the likelihood of an FTA signature on the horizon is decreasing due to the upcoming general elections in both countries next year.
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