India-UK Mutual Recognition Agreements (MRAs) and Trade Relations

Mutual Recognition Agreements (MRAs)

• India and the UK have agreed to negotiate MRAs to facilitate the movement of professionals.
• MRAs are crucial for recognizing qualifications in professions such as nursing, architecture, accounting, and dentistry.
• The goal is to establish these MRAs within 36 months.
• MRAs allow recognition of licensing or qualification requirements between countries.

India-UK Comprehensive Economic and Trade Agreement (CETA)

• The UK has assured a mobility regime for various categories of Indian professionals.
• Key provisions include: 
  1. Business visitors can stay for up to 90 days within any six months.
  2. Intra-corporate transferees and their families can stay for up to three years.
  3. Graduate trainees are accommodated similarly.
  4. Investors are allowed a stay of one year.
  5. Contractual service suppliers from 33 sub-sectors can operate for 12 months within 24 months.
  6. Independent professionals from 16 sub-sectors have similar access.

Current Workforce and Visa Commitments

• Approximately 60,000 Indian intra-corporate transferees work in the UK, particularly in IT.
• The UK will provide three-year visas for workers and their families without numerical restrictions.
• No numerical quotas or Economic Needs Test requirements will be imposed by the UK.

Market Access and Trade Balance

• India has provided market access to the UK in professional, financial, and environmental services.
• The UK has expertise in these areas, potentially leading to increased investments in India.
• India maintains policy space in sensitive sectors.
• India enjoys a trade surplus of approximately $6.6 billion with the UK.
• No commitments have been made by India regarding easing the cap on British banks opening more branches.