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Discussions have started once again on the long-stalled free trade agreement between India and the UK. UK Business and Trade Secretary Jonathan Reynolds reached India on Monday. Union Minister Piyush Goyal has given information about this on X and said that he is expecting a passionate discussion. This discussion will last for 2 days. According to a statement from the UK government, through this discussion, ways will be found to improve trade between the two countries and business relations will be strengthened. Discussions on the free trade agreement were started in January 2022 and came to a halt after the announcement of elections by former UK Prime Minister Rishi Sunak.
Which sectors will be discussed
Under the new FTA, both countries will get an opportunity to access each other's different sectors. British firms are demanding a reduction in tariffs imposed by India on many luxury items. These include liquor, electric vehicles, agri products and confectionery items. India, on the other hand, wants its companies to get better access to the UK's service sector. This includes telecommunications, legal services and financial services. India wants the rules to be relaxed to give more opportunities to IT and healthcare skilled professionals. Along with this, the textile and pharma sectors should get zero duty access in the UK.
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