Skip to content 
Search

Latest Stories

India, UK make ‘huge progress’ in trade talks: official

India's commerce secretary says the two countries are looking to resolve key issues this month

India, UK make ‘huge progress’ in trade talks: official

THERE is a "huge" progress in the talks between India and the UK on the proposed Free Trade Agreement (FTA) , a top official said in New Delhi.

Commerce secretary Sunil Barthwal said the 11th round of talks in London was "very intense" and many issues were closed.

Out of the total 26 chapters in the proposed FTA, 19 have been closed. Investment is being negotiated as a separate agreement - bilateral investment treaty - between India and the UK.

"Now, there are only few issues left. The UK team is coming to India during the Trade and Investment Working Group (TIWG) meeting (in Jaipur) and we are hoping that we would be closing those remaining issues.

"So, our target is that we close the issues … when the UK team visit us in India and we are very hopeful that the issues will be sorted out," Barthwal told reporters.

"I think there is a good possibility of the UK FTA moving forward... There are a lot of steps before FTA is signed," he said, adding "there is a huge progress on the FTA".

A section of the UK team is already in New Delhi and the remaining officials are coming from Wednesday (16).

A minister-level meeting is expected on August 21.

"Lot of visits are happening that is why we are saying that we are very keen to close the remaining chapters during this visit," Barthwal said.

The main issues which could come up for discussions in this round include investment treaty, reduction of duties on auto and whiskey, rules of origin, intellectual property rights and matters pertaining to services.

The Indian industry is demanding greater access for its skilled professionals in sectors like IT, and healthcare in the UK market, besides market access for several goods at nil customs duties.

On the other hand, the UK is seeking a significant cut in import duties on goods such as scotch whiskey, automobiles, lamb meat, and certain confectionary items.

Britain is also looking for more opportunities for UK services in Indian markets in areas like telecommunications and legal and financial services.

The bilateral trade between the countries increased to $20.36 billion in 2022-23 from $17.5 bn in 2021-22.

More For You

modi-trump-getty
Modi shakes hands with Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Indian exporters watch closely as Trump says trade deal with India likely

THE US could reach a trade deal with India that would help American companies compete more easily in the Indian market and reduce tariff rates, President Donald Trump said on Tuesday. However, he cast doubt on a similar deal with Japan.

Speaking to reporters on Air Force One, Trump said he believed India was ready to lower trade barriers, potentially paving the way for an agreement that would avoid the 26 per cent tariff rate he had announced on April 2 and paused until July 9.

Keep ReadingShow less
Kolhapuri sandal sales surge in India post Prada controversy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Kolhapuri sandal sales surge in India post Prada controversy

INDIAN footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft.

Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origins.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less
Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less