01 March 2022, Mumbai:
New Delhi will seek duty exemptions for labour-intensive exports, including textiles, besides easier market access for fisheries, pharmaceuticals and agriculture products, during the second round of India-UK free trade agreement (FTA) talks, said two government officials.
The negotiations, scheduled to take place between 7 and 18 March, will also explore the possibility of an early-harvest agreement, or a mini FTA, for the short-term, as the two countries continue with the talks to iron out differences on sensitive issues.
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India is seeking to conclude at least six bilateral trade agreements this year. Last week, New Delhi signed a comprehensive economic partnership agreement (CEPA) with the UAE for zero-duty access to 90% of Indian products. The deal was closed in a record 88 days.
“The UK agreement will be broader in scope compared with the one India had with the UAE. Duty cuts on textile and exports from labour-intensive sectors, such as leather, footwear, gems and jewellery, are among India’s 10-12 big-ticket wish-list,” said one of the two officials, seeking anonymity.
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BGMEA Vice President Miran Ali and Directors Asif Ashraf, Tanvir Ahmed and Abdullah Hil Rakib were also present on the occasion.
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