India and UK reconfirm commitment to Free Trade Agreement during Strategic Dialogue | Business News

India and Britain have reaffirmed their commitment to concluding a mutually beneficial free trade agreement (FTA) at the annual UK-India Strategic Dialogue. Foreign Secretary Vinay Kwatra, currently visiting the UK, engaged in discussions with his counterpart, Sir Philip Barton, Permanent Under-Secretary at the Foreign, Commonwealth and Development Office (FCDO) on Friday.

The FCDO reported that the two leaders reviewed the progress made on the UK-India 2030 Roadmap since their last strategic dialogue in January last year and looked ahead to the next phase of bilateral cooperation. They noted the good progress on the 2030 Roadmap, highlighting key areas where the UK and India have collaborated to address global challenges.

This collaboration includes working on the world’s first malaria vaccine, India’s successful G20 Presidency, and increasing opportunities for students and entrepreneurs under the Migration and Mobility Partnership. The dialogue also emphasized the commitment to negotiate a mutually beneficial FTA and enhance defense cooperation.

During his visit, Kwatra also had a productive meeting with UK Minister of State for Defence Procurement James Cartlidge to discuss ongoing India-UK defense capability cooperation initiatives and future collaboration opportunities.

Lord Tariq Ahmad, FCDO Minister for South Asia, expressed delight in hosting Indian Foreign Secretary Kwatra in London and underlined the UK’s commitment to deepening cooperation with India. The 2030 Roadmap, established in 2021, includes commitments to deepen cooperation on health, climate, trade, education, science and technology, and defense by 2030.

India and the UK have conducted 13 rounds of talks on the FTA, with the 14th round commencing in January. The agreement covers various chapters including goods, services, investments, and intellectual property rights. Both countries are seeking greater market access and opportunities for their skilled professionals in each other’s markets to boost bilateral trade, which increased to USD 20.36 billion in 2022-23 from USD 17.5 billion in 2021-22.