The trade talks between India and UK on Free Trade Agreement (FTA) have concluded without a deal, the report said on Saturday.
According to the Reuters report, the latest round of trade talks between India and UK has concluded without a deal.
The report quoting a British official said an agreement could not be finalised ahead of the upcoming Lok Sabha elections in India.
Both the countries have held stop-start talks over a FTA for two years. Both India and UK are slated to go for general elections in 2024.
Prime Minister Narendra Modi will bid for a rare third term in a vote that is due by May, with the exact date yet to be announced.
"Neither side is walking away from talks," the report quoted a British official as saying.
The above official as per the report added: "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 report quoted British official as having said.
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.
