The sixth round of negotiations between senior officials of India and the UK for a proposed free trade agreement (FTA) will begin later on Monday. Trade in goods, including passenger vehicles, is one of the areas under the negotiations, which started on January 13, 2022.
In a free trade agreement, two countries either significantly reduce or eliminate customs duties on the maximum number of goods traded between them. The UK side is demanding duty concessions in the automobile sector.
India’s main exports to the UK include ready-made garments and textiles, gems and jewellery, engineering goods, petroleum and petrochemical products, transport equipment and parts, spices, metal products, machinery and instruments, pharma and marine items.
Major imports include precious and semi-precious stones, ores and metal scraps, engineering goods, professional instruments, non-ferrous metals, chemicals and machinery.
