In a recent development, Prime Minister Narendra Modi and UK’s Chancellor of the Exchequer, Rishi Sunak held talks over the phone and agreed to expedite the ongoing Free Trade Agreement (FTA) negotiations between India and the UK. The two leaders discussed a range of issues related to bilateral trade and investment, as well as the ongoing COVID-19 pandemic.
During the conversation, PM Modi conveyed his appreciation for the support extended by the UK government during India’s fight against the COVID-19 pandemic. He also highlighted the need for a stronger economic partnership between the two countries, which could help in the post-pandemic economic recovery.
The two leaders agreed on the need to conclude an FTA as soon as possible, which could help in strengthening the economic ties between India and the UK. They also discussed the need to enhance collaboration in sectors such as healthcare, education, and innovation. The leaders agreed to further the cooperation between their countries in these areas, as well as on issues related to climate change and sustainability. They reaffirmed their commitment to promoting an open, transparent, rules-based international trading system. They also discussed the potential for closer collaboration between India and the UK in global forums such as the G20 and WTO.
India and the UK have been negotiating an FTA since 2017, and both sides have been keen to conclude a deal that could help boost bilateral trade and investment. The negotiations have faced several hurdles, including issues related to market access, intellectual property, and labour mobility.
According to reports, the two sides have made significant progress in the negotiations, and several rounds of talks have taken place over the past few months. The agreement is expected to cover a range of issues, including tariffs, trade in services, and investment.
In addition to the FTA negotiations, the two leaders also discussed the ongoing COVID-19 pandemic and the need for international cooperation to combat the virus. They also discussed the possibility of enhancing collaboration in the area of vaccine development and distribution.
PM Modi highlighted India’s efforts to provide vaccines to other countries and underscored the importance of equitable access to vaccines. He also reiterated India’s commitment to working with the international community to address the challenges posed by the pandemic.
The two leaders also discussed the upcoming COP26 climate summit, which will be hosted by the UK in November this year. PM Modi expressed his commitment to addressing the issue of climate change and his support for a successful outcome at the summit.
The talks between PM Modi and Rishi Sunak are expected to give a boost to the ongoing negotiations between India and the UK, which have been stalled for several months due to the pandemic. The two sides are now expected to work towards concluding the FTA negotiations as soon as possible, which could help boost bilateral trade and investment.
India and the UK have a long-standing economic relationship, and the two countries have been looking to enhance their economic ties in recent years. An FTA between India and the UK could help open up new opportunities for businesses and investors in both countries, and could also help boost economic growth and job creation.
In conclusion, the talks between PM Modi and Rishi Sunak have been seen as a positive development in the ongoing negotiations between India and the UK. The two leaders have reaffirmed their commitment to strengthening the economic ties between the two countries and have agreed to work towards concluding the FTA negotiations as soon as possible. This could help open up new opportunities for businesses and investors in both countries, and could also help boost economic growth and job creation in the post-pandemic era.
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