India, U.K. to begin trade talks from November 1

Government eying ‘early harvest’ deal by March.

Formal negotiations for a proposed (FTA) would begin on November 1, with an interim ‘early harvest’ agreement to be completed by March 2022, the government stated on Tuesday.

The interim trade pact would involve early tariff or market access concessions on certain key ‘high priority products and services’, the Commerce and Industry Ministry said in a statement following Minister Piyush Goyal’s meeting with his British counterpart, International Trade Secretary Elizabeth Truss on Monday.

The U.K. government, in a separate statement, noted that the two Ministers agreed on the steps to get ready to launch negotiations ‘later this year’, including a series of trade working groups from September to help both sides ‘better understand each other’s position on potential chapter areas in any trade deal including tariffs, standards, IP and data regulation’.