NEW DELHI: In a resounding signal of imminent agreement this year, British Prime Minister Rishi Sunak exuded optimism about India and the United Kingdom's substantial strides towards sealing a free-trade deal. These remarks were made during the G20 Summit in Delhi on Friday.
The two top leaders, PM Modi and Rishi Sunak, expressed their contentment with the remarkable headway achieved across various domains of bilateral collaboration, in accordance with the India-UK Comprehensive Strategic Partnership and the 2030 Roadmap. This progress encompassed key areas such as the economy, defense and security, technology, green technology, climate change, healthcare, and mobility sectors.
Furthermore, both leaders engaged in discussions on international and regional matters of significance and mutual concern, as stated by the Ministry of External Affairs.
The progress in the negotiations for a Free Trade Agreement was also assessed, with both leaders voicing optimism that the outstanding issues could be promptly addressed, paving the way for a balanced, mutually advantageous, and forward-looking Free Trade Agreement in the near future, according to the official statement.
Back in August, Finance Minister Nirmala Sitharaman hinted that India was nearing a pivotal decision regarding the signing of the FTA with the UK. These negotiations have been ongoing since 2021, encompassing an impressive 13 rounds of talks. Bilateral trade between the two nations reached a staggering USD 20.36 billion in the fiscal year 2022-23.
"Prime Minister Modi extended an invitation to PM Sunak for a bilateral visit at the earliest feasible date for a more comprehensive discussion. Prime Minister Sunak graciously accepted the invitation and congratulated PM Modi on the successful G20 Summit," the press release concluded.
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