The India-UK Free Trade Agreement (FTA) main negotiations have been completed, according to Vikram K. Doraiswami, India’s High Commissioner to the UK, who made this announcement Tuesday as Prime Minister Narendra Modi gets ready for a two-day trip to Britain. Only a few final documents need to be finalized.
From July 23 to 24, PM Modi will travel to the UK on an official visit at the request of UK Prime Minister Keir Starmer. He is in the UK for the fourth time.
“A lot on trade and investment, especially how to implement the trade agreement once it is signed, and how both countries can further strengthen their economic relationship,” Doraiswami told IANS, referring to the forthcoming talks.
He continued, “Indian businesses operating in the UK are generally happy; they have had good market access here.”
Doraiswami claims that the “prime ministers of both countries announced on May 6 that the main FTA negotiations have concluded.” To make sure the agreement is legally sound and all the documents are prepared for an agreement, some paperwork must still be completed; this is known as “legal scrubbing.”
“Our entire team is working in London to prepare for PM Modi’s visit,” Doraiswami told IANS.
On May 6 of this year, PM Modi and Starmer announced the successful completion of an advantageous free trade agreement (FTA) between India and the UK. By 2030, it is anticipated that trade between the two nations will have doubled to $120 billion. According to an official statement, 99 percent of Indian exports to the UK will benefit from zero tariff under the free trade deal.
According to the statement, the agreement creates enormous export prospects for India’s labor-intensive industries, including textiles, marine products, leather, footwear, sports goods and toys, gems and jewelry, and other crucial industries like engineering goods, auto parts and engines, and organic chemicals.
At the request of Maldivian President Dr. Mohamed Muizzu, PM Modi will go to the Maldives for a state visit on July 25–26 as part of the second leg of the tour. This is the first time a head of state or government has visited the island nation during President Muizzu’s leadership, and PM Modi’s third visit overall.
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