UK PM Kier Starmer’s Mumbai visit to focus on FTA implementation

ET logo


UK PM Keir Starmer’s Mumbai visit next week, his first India trip in his official capacity, will bring to focus the growing economic partnership and implementation of the free trade agreement (FTA) at a time when the Trump administration has weaponised tariffs and sought additional concessions under the Indo-US trade pact.

On October 9 in Mumbai, PM Narendra Modi and Starmer will take stock of the progress in diverse aspects of the India-UK Comprehensive Strategic Partnership in line with ‘Vision 2035‘, according to officials familiar with the issue.

Both will engage with businesses and industry leaders on opportunities presented by the India-UK Comprehensive Economic and Trade Agreement, an official informed. India-UK free trade agreement brings together the world’s fifth and sixth largest economies. The UK has offered 99.1% of tariff lines with 100% trade value, mostly at zero duty immediately on entry into force of FTA, an official said.

This is the most comprehensive of India’s FTAs with 26 chapters, going beyond traditional areas negotiated in past FTAs to include new areas like gender, innovation and SMEs, the official said. FTA will give Indian businesses more competitive market access in focus sectors like textiles, leather, footwear, sports goods and toys, gems and jewellery, engineering goods, auto parts and engines.

India has secured favourable mobility provisions for skilled Indian professionals, including contractual service suppliers, business visitors, investors, and independent professionals like yoga instructors, musicians and chefs.

Add ET Logo as a Reliable and Trusted News Source



Source link

Online Company Registration in India

Leave a Reply

Your email address will not be published. Required fields are marked *