India and the United Kingdom are likely to sign the long-pending free trade agreement (FTA) by the end of July, with the legal vetting of the agreement text now progressing at an accelerated pace, a senior government official said on Monday.
To fast-track the process, Commerce Secretary Sunil Barthwal is currently in London with his team for discussions with UK Secretary of State for Business and Trade Jonathan Reynolds and other top officials, the official added.
"The agreement is likely to be signed by July-end. India's legal team is also there in London for the legal scrubbing of the text. The pact's text would be put in public domain after signing," the official said, quoted PTI.
The two nations had announced the conclusion of FTA negotiations on May 6 after nearly three years of talks. Once signed, the agreement will be subject to approval by the British Parliament and India's Cabinet, with implementation likely a year later.
The trade pact aims to double bilateral trade to $120 billion by 2030 and will eliminate tariffs on Indian exports such as textiles, leather and footwear, while reducing duties on UK exports of cars and Scotch whisky.
Commerce and Industry Minister Piyush Goyal had visited London earlier this month for preparatory talks, and Prime Minister Narendra Modi has invited newly elected UK Prime Minister Keir Starmer to India
To fast-track the process, Commerce Secretary Sunil Barthwal is currently in London with his team for discussions with UK Secretary of State for Business and Trade Jonathan Reynolds and other top officials, the official added.
"The agreement is likely to be signed by July-end. India's legal team is also there in London for the legal scrubbing of the text. The pact's text would be put in public domain after signing," the official said, quoted PTI.
The two nations had announced the conclusion of FTA negotiations on May 6 after nearly three years of talks. Once signed, the agreement will be subject to approval by the British Parliament and India's Cabinet, with implementation likely a year later.
The trade pact aims to double bilateral trade to $120 billion by 2030 and will eliminate tariffs on Indian exports such as textiles, leather and footwear, while reducing duties on UK exports of cars and Scotch whisky.
Commerce and Industry Minister Piyush Goyal had visited London earlier this month for preparatory talks, and Prime Minister Narendra Modi has invited newly elected UK Prime Minister Keir Starmer to India
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