Today: 22 August 2025
21 February 2024
2 mins read

Indian delegation to visit London to resolve FTA issues

A TRQ allows a lower tariff rate on imports of a given product up to a specified quantity. New Delhi is said to be considering a concessional tariff of 30 percent on 2,500 electric vehicles imported annually from the UK priced above $80,000…reports Asian Lite News

A delegation from India, led by Commerce Secretary Sunil Kumar Barthwal, is likely to be in London from February 21-24 to conduct another round of negotiations on the proposed Foreign Trade Agreement (FTA) with United Kingdom (UK) as disagreements remain over certain aspects of market access, an Indian government official told Moneycontrol.

“FTA talks may go on for longer, if outstanding issues remain unresolved even as India looks to conclude negotiations before general elections schedule in April-May 2024”, the official added.

According to the official, these outstanding issues include UK’s reluctance over India’s stand that British automakers have to increase utilisation of local components in their vehicles to 45 percent to get concessions from New Delhi.

India has been mulling Tariff Rate Quotas (TRQ) to meet the UK’s demand for a reduction in import duties on electric vehicles from Britain as part of the trade deal. The two sides are also yet to agree on Britain’s demand for an import duty cut on its whisky, the official added.

A TRQ allows a lower tariff rate on imports of a given product up to a specified quantity. New Delhi is said to be considering a concessional tariff of 30 percent on 2,500 electric vehicles imported annually from the UK priced above $80,000.

Commerce Secretary on February 15 said that India will safeguard the interest of farmers as well as goods covered under the Production-Linked Incentive (PLI) scheme while aiming for commercial gains through the proposed FTA with UK.

“Majority of the chapters are either closed or are at advanced stage of negotiations. Recently, a high-level UK delegation visited India (23rd-25th January 2024) and discussions were held at higher level as well as team level to iron out differences,” the commerce ministry said on February 15.

The FTA between India and the UK, negotiations for which were launched on January 2022, was originally slated for Diwali 2022. There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights. So far, 14 round of talks have been conducted between the two sides.

ALSO READ-India, EU Set to Begin Seventh Round of FTA Talks

Previous Story

Too many have been killed in Gaza, says Prince William

Next Story

European Union, Japan plan security accord

Latest from -Top News

US sanctions more ICC judges

Washington hits at The Hague with fresh sanctions on four ICC judges and prosecutors, including French and Canadian officials, over probes targeting Israel and US actions abroad….reports Asian Lite News The United

UAE Wows Osaka!

The UAE Pavilion at Expo 2025 Osaka celebrates its three millionth visitor, blending culture, innovation, and hospitality in an immersive showcase of heritage, sustainability, and forward-looking global vision….reports Asian Lite News The

MBS & Sisi talk ties, Palestine

The two leaders reviewed the historic and strategic relations between Riyadh and Cairo and explored new ways to bolster cooperation…reports Asian Lite News Saudi Crown Prince and Prime Minister HRH Mohammed bin

Dubai’s startup supernova

Marking its 10th year, Expand North Star cements Dubai’s role as a global hub for digital innovation, uniting startups, unicorns, and investors to shape the future economy….reports Asian Lite News Expand North

Qatar: Syria’s stability key to region

Qatar, speaking for the Arab Group at the UN, urged unity and sovereignty for Syria as regional diplomacy, UN warnings, and fragile ceasefires highlight a precarious crossroads….reports Asian Lite News Qatar, speaking
Go toTop

Don't Miss

Debenture holders approve Reliance Commercial Finance resolution

Non-banking finance company Authum Investment and Infrastructure’s resolution plan has

DViO closes 2021 with significant business gains

DViO digital closed off 2021 on a high, after making