UK's Chancellor of the Exchequer Rachel Reeves

India and the United Kingdom are poised to resume negotiations for a Free Trade Agreement (FTA) in early 2025. This decision follows a recent meeting between Prime Minister Narendra Modi and UK Prime Minister Keir Starmer at the G20 Summit in Rio de Janeiro, where both leaders expressed a commitment to strengthen bilateral ties, including trade relations.

The exact dates for the resumption of talks will be finalized through diplomatic channels shortly. The FTA discussions aim to build on the progress made in previous rounds, with both countries eager to address outstanding issues that have stalled negotiations, such as import duties on goods and easier business visa arrangements.

India's Commerce Ministry emphasized the importance of achieving a balanced and mutually beneficial agreement, noting that the UK is a priority country in India's ambitious goal of reaching $1 trillion in merchandise exports by FY30. Recent trade data indicates significant growth in bilateral trade, with India's exports to the UK increasing by 12.38% in the first half of 2024-25.