India continues to actively pursue free trade agreements (FTAs) with several nations. Officials report significant progress in talks with the United Kingdom, while negotiations with the European Union and Peru also move forward.
An Indian negotiation team is currently in the UK finalizing a highly anticipated India-UK FTA. Earlier in March, a UK team visited India to address outstanding issues, and government sources indicate a balanced outcome is close at hand.
Alongside the UK deal, India is in its 7th round of FTA talks with the European Union. Both sides seek to resolve key concerns, with the next round of discussions scheduled for May 2024 in Brussels.
India also engages in promising bilateral trade negotiations with Peru. The 7th round of talks, held in April, produced significant advancements in areas like customs procedures. The next round is set for June, with both nations aiming to sign the agreement.
Bilateral trade between India and Peru has multiplied significantly over the past two decades, exceeding $3.6 billion in 2023. Stakeholders and businesses in all the countries involved share optimism about greater economic partnership and new trade opportunities.
India's pursuit of international trade agreements demonstrates its commitment to expanding economic cooperation. Upcoming months may witness the successful conclusion of agreements with the UK, the EU, and Peru, potentially boosting trade and investment for all those involved.
