Bizz Buzz News | 19 June 2023
India, UK seek equal treatment for services companies in FTA: Official
New Delhi: India and the UK are seeking equal treatment in each other’s market for their respective companies engaged in the services sector under the proposed free trade agreement, which is under negotiations, a government official said.
The two countries are looking at promoting trade in services through this agreement, negotiations for which was launched on January 13, 2021. As many as ten rounds of talks have been completed till June this year and both sides are aiming to conclude the negotiations at the earliest. In the services sector, the official said the UK is showing keen interest in areas such as financial sectors, while India is looking at areas such as education and movement of skilled professionals.
Under the services chapter of the free trade agreement, there are no customs duty concessions given to each other. The two trading partners negotiate issues like giving national treatment to Indian and British companies in different sectors.