India-UK Trade Deal / FTA deal has been done between India and UK, but this agreement will take 3 years

India-UK Trade Deal: After long-running negotiations, India and Britain have finally signed a free trade agreement (FTA). This agreement is expected to give a tremendous boost to India's agriculture sector, providing new opportunities to farmers and related industries. However, negotiations on another important agreement, the Mutual Recognition Agreement (MRA), are still going on between the two countries. If this agreement is successful, it will become even easier for Indian professionals to get a job in Britain.

MRA Agreement: New possibilities for professionals

India and Britain have agreed to work on a Mutual Recognition Agreement (MRA) for professional services. It aims to recognize the qualifications of professionals like nurses, accountants, architects and dentists in Britain. A senior official said, "Both countries will work towards finalizing the MRA in the next 36 months. This agreement is necessary for those professions where recognition of qualifications is mandatory."

Meaning and importance of MRA

Mutual Recognition Agreement (MRA) means that the license or qualification obtained in one country will also be recognized in the other country. This will simplify the process for Indian professionals to work in the UK. Under the India-UK Comprehensive Economic and Trade Agreement (CETA), the UK has provided facilities to Indian professionals in several areas:

Business visitors: Allowed to stay in the UK for up to 90 days in any six-month period.

Intra-corporate transfers: Employees, their partners and dependents allowed to stay for up to three years.

Graduate trainees: Special provisions for training.

Investors: Allowed to stay for up to one year.

Contract service providers: Allowed to work for up to 12 months in 24 months in 33 sub-sectors (such as IT, finance, hospitality).

Freelance professionals: Similar facility in 16 sub-sectors (such as IT, telecoms, finance).

Status of Indian professionals in the UK

Currently, around 60,000 Indian IT employees are working in the UK under intra-corporate transfers. Britain has promised three-year visas to these employees, their partners and dependents, without any number cap. Also, there will be no economic need check on these categories.

Benefits to India in trade

India has a trade surplus of $6.6 billion with Britain. Under this agreement, India has allowed Britain market access in professional, financial, environmental and other services. An official said, "Britain's expertise will increase investment in India, but we have also ensured that India's policy independence in sensitive areas is maintained."

However, India has not promised to relax the limit on opening more branches of British banks.