India, UK keen on sealing FTA by end of 2022:Basics Explained

British counterpart Boris Johnson was on 2-day visit to India.

Prime Minister Narendra Modi and his British counterpart Boris Johnson, during their talk, agreed to expand the India-UK defence partnership; two sides agreed on a new and expanded defence and security partnership. The UK will set up an India-specific open general export licencing regime to reduce the delivery time for defence procurements

Both sides unveiled plans for finalising a free trade agreement (FTA) by the end of this year.

The two prime ministers reviewed progress in the implementation of ‘Roadmap 2030’, which sets ambitious targets for collaboration in five specific areas, including defence and security cooperation, and trade and investment, and also framed some goals for the future.

Both sides emphasised the need to maintain a free, open, inclusive and rules-based order in the Indo-Pacific. India also welcomed the UK’s decision to join the Indo-Pacific Oceans Initiative.

LEARNING FROM HOME/WITHOUT CLASSES/BASICS

The India-UK relationship was elevated to a comprehensive strategic partnership during the virtual summit between Modi and Johnson in 2021. The two sides also adopted the 10-year road map to expand ties in trade and investment, defence and security, climate change, healthcare and people-to-people ties.

India and UK have been enjoying multi-faceted bilateral cordial relations bound by strong ties of history and culture. India’s relationship with the UK intensified with its up-gradation to a Strategic Partnership in 2004. July 2010 saw the relations elevated to ‘Enhanced Partnership for the   Future. The UK supports India’s proposal for permanent membership of the UNSC and is also an important interlocutor for India in the EU, G8, G20 and global contexts.

Both countries elevated their relations to ‘Comprehensive Strategic Partnership’ on 4 May 2021. Both countries also adopted India-Uk Roadmap 2030 to steer cooperation for the next 10 years which is based on five pillars- trade and economy,people to people,health,defence and security areas.

Both countries jointly launched the ambitious ‘One Sun, One World, One Grid(OSOWOG) programme and the Infrastructure for the Resilient Island States(IRIS), in November 2021 on the sidelines of the COP26 summit.

The ongoing collaboration between the UK and India on a COVID-19 vaccine – which was developed in the UK at Oxford University and will be produced en masse at India’s Serum Institute – highlights the importance of science and research to their bilateral relationship.

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