India has requested the United Kingdom (UK) to fast track the ratification process of the Comprehensive Economic and Trade Agreement (CETA) so that it enters into force as early as possible and help Indian exporters diversify, commerce secretary Sunil Bathwal said on Thursday.

UK deal to offer zero-duty access

If in the next six months the India-UK trade agreement gets operationalised, it will immediately provide zero duty access to Indian exports so any disadvantage from tariff differential that the exports may face in the US may get covered in the UK.

Pending the operationalisation of CETA, the government is encouraging exporters to reach out to businesses in the UK for contracts so that the trade can start flowing immediately. “We are ready to facilitate them,” the secretary said.

Multiple FTAs in advanced stages

With the European Union (EU) also India is fast tracking negotiations. 

A lot of work has progressed further and we are hoping it is completed by the end of this year, Barthwal said.

“It has made good progress over a period of time. There are further meetings that are going to happen- not only at the negotiator level but the higher levels of EU’s Director General and and the ministerial level,” he added 

The 13th round of negotiations on the FTA with the EU is scheduled in the second week of September. 

On FTA with Oman, he said that negotiations on the Comprehensive Economic Partnership Agreement (CEPA) have been concluded and the agreement will be signed when dates are decided mutually by both the countries. 

On Thursday India and Association of Southeast Asian Nations (Asean) concluded the latest round of negotiations on the review of the Asean-India Trade in Goods Agreement (AITIGA). The deadline for the completion of the review is also 2025-end. 

With New Zealand two rounds of negotiations on the FTA have happened while negotiations are also happening with Peru and Chile, Barthwal added. 

Other than signing new FTA, the government is also encouraging exporters to increase the utilisation of the pacts that have already been made operational. For this the facilitation to the exporters is being provided.