Chief negotiators of India and the UK are expected to soon hold the next round of talks for the proposed free trade agreement to iron out differences on issues such as automobiles, medical devices, and movement of professionals, an official said.

The official said that the UK team may come here for the 14th round of negotiations so that the talks can be concluded at the earliest.

“Virtual sessions are progressing. But we are planning a full-fledged round of talks. In the full round, both sides discuss all the chapters. Some 60-70 sessions happen parallelly,” the official, who did not wish to be named, said.

Issues which need resolution include rules of origin; intellectual property rights; social security agreement; duty concessions on electric vehicles, scotch whiskey, lamb meat, chocolates and certain confectionery items; liberalisation of norms in banking and insurance.

Talks are also progressing on the proposed bilateral investment treaty (BIT). The investment treaty is being negotiated as a separate agreement between India and the UK.

These investment treaties help in promoting and protecting investments in each other’s country. The main point of contention involved in this pact is about the mechanism for the settlement of disputes.

BITs help in promoting and protecting investments in each other’s countries.

India has proposed to first utilise all local judicial remedies for settlement of disputes before initiating an international arbitration. The two nations had launched the trade talks in January 2022 with an aim to conclude talks by Diwali (October 24, 2022).