NEW DELHI: India and the UK on Tuesday agreed to resolve the gaps so that the bilateral trade agreement can be implemented at the earliest.
High-level talks to address sticking points
Commerce and industry minister Piyush Goyal held talks with UK secretary of state for business and trade Peter Kyle on addressing the ticklish issues as India has concerns over the steel quotas and duties that are sought to be introduced by the Keir Starmer government.
"Had great conversations on charting the next phase of India-UK economic engagement, advancing shared business priorities, and further strengthening our robust and forward-looking partnership," Goyal said in a social media post.
Engaged in extensive discussions with UK Permanent Secretary Ms. Amanda Brooks on #IndiaUKCETA implementation. Took stock of progress and worked through the sticking points, while exploring new pathways under #IndiaUKCETA #GlobalTrade #EconomicPartnership aligned with #ViksitBharat. Reaffirmed commitment to regular engagement with @UKGovScotland @TradeGov for effective implementation, Rajesh Agrawal, commerce secretary said in a post on X.
Steel safeguards and carbon tax key hurdles
Britain's safeguard measures on steel are coming in the way of rolling out the trade deal, which will lower tariffs and ease access for businesses, as India wants the issue to be resolved. Besides, the government is seeking the carbon border adjustment mechanism, which is to kick in from next year.
Both sides expressed optimism that the remaining obstacles can be overcome through continued dialogue and cooperation. The trade agreement is expected to significantly boost economic ties between the two nations, benefiting businesses and consumers alike.
