NEW DELHI/ LONDON: Officials announced that India and the United Kingdom would sign a comprehensive free trade deal on July 24 during Prime Minister Narendra Modi’s visit to Britain. According to the agreement, India would lower duties on important British exports like as Scotch whiskey, automobiles, and some food products, while the UK will grant duty-free access to a wide variety of Indian goods, including textiles and electric cars.
The deal, which was reached in May after almost three years of sporadic discussions, is projected to considerably boost bilateral commerce by eliminating numerous trade barriers and boosting market access for both parties. It will take effect after being ratified by the British Parliament and approved by India’s federal cabinet, which is likely to be finished within the next year.
This is a substantial accord,” India’s Foreign Secretary Vikram Misri told reporters on July 22, stressing that legal review of the treaty was virtually complete ahead of Modi’s four-day travel to the United Kingdom and the Maldives. India’s Commerce and Industry Minister, Piyush Goyal, will join the Prime Minister to the ceremonial signing ceremony, according to a senior Commerce Ministry official.
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