The UK and India are closing in on their free trade agreement (FTA), with major advances made on core issues, such as visa conditions for Indian professionals. The mobility question, a protracted sticking point, has been "largely resolved," clearing the way for greater cooperation in services and investment.
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Visa Arrangements: Visa mobility pact is important in order to help skilled Indian labor move to the UK, furthering business and trade relations.
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Other Sticking Points: Rules on tariffs of whisky, automobiles, and pharmaceuticals are unresolved, but hope is high that these can be resolved in a short while.
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Economic Gains: The FTA will facilitate increased UK exports, especially from industries such as Scotch whisky and high-end motor vehicles, with lower tariffs and greater access to India's immense market.
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Concurrent Agreements: Negotiation is also going on for a bilateral investment treaty to offer investment legal protection, further enhancing economic relations.
With only a handful of issues remaining to be settled, both countries are hopeful of signing the deal by the end of 2025, a milestone in their post-Brexit trade relations.
Source Name: The Guardian, MoneyControl, The Independent.