National News: A team of senior officials from both India and the UK is working hard to finalize the India-UK Free Trade Agreement (FTA) before Prime Minister Narendra Modi and British Prime Minister Keir Starmer meet in London on Thursday.
Agreement Expected by today
The goal is to reach a final agreement on issues like trade duties by today. If all goes well, the two prime ministers will be able to sign the FTA during their bilateral meeting.
India Firm on Russia Oil Trade
Even though both countries have largely agreed on the trade matters, PM Modi will clearly tell the UK leadership that India will not accept any restrictions on purchasing oil from Russia. India has always maintained that meeting its people’s energy needs is its top priority and that double standards on such matters are not acceptable.
PM Modi’s Visit to the UK
Foreign Secretary Vikram Misri confirmed that PM Modi will leave for London at 1 AM on Tuesday for a two-day visit. This will be his fourth official trip to the UK. Misri mentioned that both countries had already discussed signing the FTA during talks held in May 2025.
FTA Considered a Major Milestone
The Free Trade Agreement is seen as a major step in India-UK relations. Discussions have been ongoing for several months, and only some legal and technical issues are left to finalize.
When asked how many products will be excluded from tariffs, Misri responded, “As far as I know, very few products will be kept outside the tariff structure. The tariff lines are quite significant.”
Sanctions on Russian Oil Also on the Agenda
Leaders will also discuss the new sanctions imposed by the UK and European Union on buying energy from Russia. Recently, both imposed restrictions that don’t ban Russian oil and gas completely but set a cap on the price at which they can be sold. Countries paying more than this capped price could face penalties.
One of Rosneft’s refineries located in India has also been affected by these sanctions.
Misri added that while European countries may face their own security concerns, other countries like India also deal with serious challenges. He stressed that all global decisions should consider the broader impact and not just regional issues.
