(MENAFN- KNN India) New Delhi, Apr 19 (KNN) The British government has stated that although good market access has been offered on both sides, it is not yet sufficient to secure a free trade agreement (FTA) with India.
This statement was made by UK Foreign Secretary David Cameron during a debate in the House of Lords concerning the current state of negotiations for the India-UK FTA.
He stated, "My understanding of where we are with the trade deal is that good market access has been offered on both sides, but not quite enough yet to secure a deal.”
“It is important with such trade deals, as you only really get one proper shot at it, to make sure that it is a good enough deal that will be welcomed by industry leaders here in the UK as offering real market access," he further added.
Lord Cameron expressed, "we should open up media access on both sides to make sure we have a good plurality of media."
This comment came in the context of the recent restructuring of the BBC to create a new Indian-owned entity, Collective Newsroom, to comply with India's foreign direct investment (FDI) rules.
As Indian negotiators arrived in London this week for the fourteenth round of FTA talks, Lord Cameron emphasised the importance of securing a comprehensive deal that would significantly enhance the GBP 38.1 billion bilateral partnership across different sectors.
He acknowledged that while progress has been made, more efforts are needed from both sides to secure a trade agreement that meets the expectations of industry stakeholders.
(KNN Bureau)
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