“India-UK trade pact issues will be resolved after UK polls.”

NEW DELHI: Outstanding issues related to the much-awaited free trade agreement (FTA) between India and the UK will be resolved after the UK general elections, according to a government official.

The issues include customs duties in sectors such as electric vehicles, alcohol and services. The UK general election is scheduled for July 4 this year.

Separately, Prime Minister Narendra Modi held a bilateral meeting with British Prime Minister Rishi Sunak on the sidelines of the G7 summit in Puglia, Italy. “…I have reiterated my commitment to strengthening the India-UK Comprehensive Strategic Partnership during the third term of the NDA government. There is enormous opportunity to deepen connections in sectors such as semiconductors, technology and trade. We discussed further cementing ties in the defense sector,” Modi tweeted.

According to Additional Secretary, Department of Commerce, L Satya Srinivas, the eighth round of India-EU FTA talks will be held from June 24 to 28 in Brussels. Another senior government official said the EU is more willing to look positively at India’s prospect in the deal this time. He added that other countries with which India has free trade agreements are looking at the China plus story and this was clearly visible during the talks.

Additionally, the official said companies have started reporting greenhouse gas emissions data to the EU. Domestic companies operating in high-emission sectors, including: steel, cement, fertilizers, aluminum and hydrocarbon products, from October 1, 2023, were obliged to provide data to the EU.

Moreover, the proposed free trade agreement with Oman is under discussion and is nearing completion. He informed that both countries have reservations about India’s problems related to the petrochemical sector. Oman is seeking tariff relief on petrochemical products such as polypropylene and polyethylene, used in the plastics industry.

Electric vehicles, alcohol and services all have some clogging issues

The issues include customs duties in sectors such as electric vehicles, alcohol and services. The UK general election is scheduled for July 4 this year. Separately, Prime Minister Narendra Modi held a bilateral meeting with British Prime Minister Rishi Sunak on the sidelines of the G7 summit in Puglia, Italy.