China claims Taiwan as its own territory and threatens to annex it by force.
India and Britain launched negotiations for the FTA in January with an aim to conclude talks by Diwali, but the deadline was missed due to a lack of consensus on issues.
Four British MPs have asked the UK government to make strengthening trade ties with India a priority in the post-Brexit era.
CNBC-TV18's Shereen Bhan anchored a panel discussion of industry experts and key players in India-UK trade in New Delhi. In the wake of British Prime Minister Theresa May's visit to India, the two countries are looking at strengthening their ties further.