UK intends to put trade talks on hold until elections in India

A British official stated that an agreement could not be finalized in front of the impending Indian elections, meaning that the most recent round of trade discussions between UK and India ended without a settlement.  

The two nations are scheduled to hold national elections in 2024 and have been having sporadic discussions over a Free Trade Agreement (FTA) for the past two years.  

The precise date of the poll, which is expected around May, has not yet been disclosed. Indian Prime Minister Narendra Modi intends to run for an uncommon third term.  

"None of the parties is abandoning the negotiations," a British official declared. "We simply do not yet have what we need to finalise a deal that meets our joint ambitions."  

Earlier this week Modi and British Prime Minister Rishi Sunak reaffirmed their commitment to securing a new trade deal, which British ministers have said will take time to get right. 

"The UK has been crystal clear that we won't agree a deal until we reach ambitious outcomes on goods, services, and investment," the British official said on Friday. 

Earlier this week India signed a free trade pact with a group of European nations - Switzerland, Norway, Iceland and Liechtenstein - committing to reduce tariffs, while New Delhi receives $100 billion in investments over the next 15 years.