India’s proposed Free Trade Agreement (FTA) with the UK is expected to bring significant benefits to multiple industries, including leather and leather products. This was confirmed in Parliament on Friday through a written reply by Minister of State for Commerce and Industry Jitin Prasada.
The FTA also holds promise for India’s service sector, particularly in IT and IT-enabled services (IT/ITES). Both nations are working toward a fair and mutually beneficial agreement, ensuring that the concerns of all stakeholders are addressed.
Negotiations for the trade deal began on January 13, 2022, and so far, 14 rounds of talks have been conducted. The focus remains on crafting a commercially meaningful agreement that strengthens economic ties between the two nations.
If finalized, the India-UK FTA could provide a major boost to Indian exports, helping industries expand their reach in the UK market. The deal is expected to enhance trade opportunities and foster economic growth, making it a key milestone in India’s international trade strategy.
