India, UK to relaunch FTA talks soon; New Delhi presses London to extradite Mallya, Nirav

On the ambitious trade deal, the two prime ministers hoped that a “balanced, mutually beneficial and forward looking” free trade agreement (FTA) will be firmed up while addressing remaining issues to mutual satisfaction, according to an Indian government readout.

Prime Minister Starmer has announced that UK-India trade talks will relaunch in the new year, a British government statement.

“A new trade deal with India will support jobs and prosperity in the UK — and represent a step forward in our mission to deliver growth and opportunity across our country,” he was quoted as saying in the readout.

The negotiations for the proposed FTA began in January 2022 and the two sides have held 14 rounds of talks. However, a number of contentious issues are yet to be resolved.

In a post on X, Modi described his meeting with his British counterpart as “extremely productive” and said the comprehensive strategic partnership with the UK is of immense priority for India.

“In the coming years, we are eager to work closely in areas such as technology, green energy, security, innovation and technology. We also want to add strength to trade as well as cultural linkages,” he said.

The Ministry of External Affairs (MEA) said Starmer welcomed Modi's announcement of setting up two new Consulates General of India in the UK.

“Recognising the ample opportunities for further engagement between the two sides in the light of growing bilateral economic and business relations and with a view to better serve the consular requirements of the Indian community in the UK, Prime Minister Modi announced the establishment of two new Consulates General of India in the UK in Belfast and Manchester,” the MEA said.

On the trade deal, it said Modi and Starmer underlined the importance of resuming the FTA negotiations at an early date.

The two leaders expressed confidence in the ability of the negotiating teams to address the remaining issues to mutual satisfaction, leading to a balanced, mutually beneficial and forward looking free trade agreement, it said in a statement.

“The prime minister noted the importance of addressing the issue of economic offenders from India in the UK,” the MEA said.

“The two leaders also agreed on the need to make progress on issues related to migration and mobility,” it said.

The MEA said Modi and Starmer reaffirmed their commitment to strengthen the India-UK Comprehensive Strategic Partnership with a focus on economy, trade, new and emerging technologies, research and innovation, green finance and people-to-people contacts.

They exchanged views on issues of mutual interest, including on international and regional issues of significance, it said.

Mallya, who currently lives in the United Kingdom since March 2016 and is trying to avoid extradition to India, is accused in a bank loan default matter of over Rs 9,000 crore involving his defunct Kingfisher Airlines.

Nirav Modi is a fugitive diamond merchant, who has been in prison in London for over five years. He had lost his extradition battle to face fraud and money laundering charges in India.