The latest round of trade discussions between the UK and India seems poised to conclude without significant progress on major unresolved matters, sources familiar with the talks revealed. This indicates that reaching an agreement before India's upcoming general election is improbable.

UK delegates returned from New Delhi on Thursday and Friday, with insiders from both negotiation teams indicating that challenges persist in areas such as goods, services, and investments.

Sources disclosed that Indian negotiators lack adequate time to address pending concerns ahead of the anticipated April elections. Consequently, it's anticipated that the 14th round of talks will conclude without further deliberations.

Both parties aim to reconvene post-election, with Prime Minister Narendra Modi's Bharatiya Janata Party expected to secure a third term.

In the UK, the responsibility of finalizing a deal may not rest with Prime Minister Rishi Sunak, given his Conservative Party's considerable lag behind Keir Starmer's Labour Party in opinion polls. A British general election is anticipated in the latter part of the year.

A free-trade agreement with India, touted by Sunak's administration as a significant Brexit achievement, has encountered obstacles since negotiations commenced, with disputes ranging from visas for Indian workers to market access for UK products like whisky and luxury cars.

While FTAs have been struck with Australia and New Zealand, discontent among British farmers has surfaced. Discussions with Canada were halted earlier due to disagreements over food safety standards.

In a final push before India's elections, a UK delegation attempted to resolve pending issues, yet challenges persist, including concerns about investment protection, social security agreements, and market access for British produce like apples and cheese.

A spokesperson from Britain's Department for Business and Trade reiterated their commitment to securing a fair and balanced deal that benefits both nations. India's trade ministry did not respond to inquiries outside of business hours.

If finalized, this trade agreement, under discussion for over two years, would mark India's most ambitious yet, highlighting its appeal as an investment destination for supply-chain diversification and reduced reliance on China. Additionally, it could facilitate India's ongoing negotiations for a free trade deal with the European Union.

India has been intensifying efforts to strengthen ties with major trading partners, aiming to bolster its manufacturing sector and create employment opportunities for its burgeoning youth population.

Negotiations between the two nations commenced in January 2022, following an announcement by Modi and his then-British counterpart Boris Johnson to pursue a comprehensive trade agreement in May 2021.

Bilateral trade between India and the UK saw an uptick to $20.36 billion in 2022-23 from $17.5 billion in 2021-22.

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