(You can now subscribe to our(You can now subscribe to our Economic Times WhatsApp channelThe latest round of trade talks between the UK and India appears set to end without a breakthrough on major outstanding issues, according to people familiar with the negotiations, meaning agreement is unlikely to be reached before India holds a general election. A British general election is expected to be held in the second half of the year.A free-trade agreement with India, the most populous nation on the planet and fastest-growing major economy, is being touted by Sunak’s government as a key prize of Brexit. Talks with Canada were “paused” earlier this year, with the two sides unable to reach agreement on issues around food safety standards.In a last push before India heads to the polls, a team from UK was in India to iron out the pending issues. However, chinks remain. The UK and India continue to work towards an ambitious trade deal that works for both countries.” India’s trade ministry did not respond to an email outside business hours.If concluded, the trade deal — which has been under discussion for more than two years — would be India’s most ambitious yet, underscoring the country’s growing appeal as an alternative for investors looking for supply-chain diversification and less reliance on China.

Source: The Times March 09, 2024 11:01 UTC