After 14 series of discussions since the start of the talks in January 2022, the process has now entered its final stages, those responsible indicating that the deliberations are progressing at an accelerated pace.
The British negotiation team had recently visited India to deliberate on unresolved problems in the bilateral investment treaty (ILO), a separate but related dialogue led by the Indian Ministry of Finance.
Sources have indicated that the most important bonding point in ILO negotiations remains the dispute settlement mechanism.
The Minister of Commerce and Industry, Piyush Goyal, should also visit London next month for a follow -up meeting with the British Secretary of State for Business and Trade Jonathan Reynolds, according to reports.
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The Ale talks resumed in February this year after an eight-month break due to the elections and changes in government leaders in the United Kingdom, the new government freshly assessing negotiations. In addition to the ALE and the ILO, the two nations are also under discussion on a double tax escape agreement.
Early harvesting pact with EU
In addition to discussions in the United Kingdom, India also advances commercial negotiations with the European Union (EU). Sources have indicated that the two parties are considering an “early harvesting agreement” covering basic trade problems.
This could allow discussions from typically controversial domains which will be treated later. India had signed a similar early harvest agreement with Australia and now negotiates a complete pact.
“We discuss with the EU what can be the early harvest or the first tranche where we can conclude an agreement faster than if we involve all the types of subjects involved in the free trade agreement with the EU,” said Sunil Barthwal trade secretary on Tuesday, April 15, said that Sunil Barthwal Trade said on Tuesday, April 15, said on Tuesday, April 15, said on April 15, said on April 15, said on April 15, said April 15, said on Tuesday, April 15, said by the EU The Indian Express.
The 11th round of AFT negotiations in India-EU is expected to be held in New Delhi from 12 to 16 May, sources have confirmed.
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The recent efforts of India align with broader changes in the dynamics of world trade. As developed economies such as the United States and the EU, grow to stricter standards, India seeks to ensure that its commercial partnerships give fair advantages.
“We will expand our trade relations with countries where we get a good deal, where we can have fair and balanced free trade agreements, where India gains are proportional to what we offer, a large market of 1.4 billion people, a growing market, the World Economic Corridor (IMEC), 2025 to April 16.
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