The conclusion of the Free Trade Convention in India and the United States is distinguished by giving and taking on many issues, as the two countries have worked to conclude the deal against the background of the policies of the United States.
One of the main elements in this is the problem about the mechanism of adjusting the carbon borders, as India has retained the right to revenge or balance in the event of the impact of its exports in the future.
“This has been done because there is uncertainty and there is no legislation to implement CBAM yet,” an official source explained. The UK government is expected to implement the carbon tax in 2027 so far.
Likewise, it was decided that the Free Trade Agreement will not address issues such as short -term work visas for Indian students and the UK’s wishes for India to open legal services.
“We have agreed to drop our work visa in the post -study instead of the United Kingdom to drop it” Ask about legal services, “an official source explained.
Likewise, sensitive sectors and commodities have been excluded from the Free Trade Agreement. These include agricultural products such as dairy products, apples, cheese, oats, animals and vegetable oils, as benefits will not be provided by India to the United Kingdom. Sensitive industrial goods such as plastic, diamonds, silver, main stations, smartphones, TV camera pipes, optical fibers, optical fiber packages and cables are also excluded, and no benefits are provided by India to the United Kingdom.
India and the United Kingdom announced on May 6 that it had concluded talks on the Free Trade Agreement and the Double Contribution Agreement (DCC). The bilateral investment treaty is still being negotiated and will be signed later.
According to the UK Business and Trade, India and the United Kingdom will now work together to end the legal text of the Free Trade Convention and the production of a useable and legally binding treaty. We will end this process by signing the text of the complete treaty. She said: “DCC will enter into force alongside the Trade Agreement.”
The Free Trade Agreement aims to double bilateral trade from $ 60 billion now to $ 120 billion by 2030.
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