PM Modi UK Visit LIVE: FTA to increase bilateral trade by nearly 39% in the long run, equivalent to £25.5 billion a year, say officials

The Free Trade Agreement (FTA) between India and the United Kingdom is expected to be signed on July 24 during Prime Minister Narendra Modi’s visit to the country. The deal, which was agreed on May 6, took around three months to conclude the legal vetting as well as to finalise the contours around tariff concessions for automobiles. Indian exports are set to benefit from duty elimination on about 99 percent of the tariff lines, covering almost 100 percent of the trade value, especially aiding labour-intensive shipments of textiles, marine products, leather, footwear, sports goods and toys, gems and jewellery. (Read More)