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Wednesday, October 11, 2023

India, UK may ink FTA by the end of this month ;-The Economic Times

 

India's Minister of Commerce and Industry, Piyush Goyal, and British Secretary of State for International Trade Anne-Marie Trevelyan.
India and the UK are likely to sign a proposed free trade agreement (FTA) in the last week of this month. It will be New Delhi's first such comprehensive deal with an industrialised nation, seeking to spur bilateral annual business beyond the current $20 billion.

India has extended an invitation to UK Prime Minister Rishi Sunak to visit India on October 28 and ink the ambitious pact, people aware of details told ET.

Senior commerce and industry ministry officials on Monday made a presentation to the Prime Minister's Office on the agreement, the people cited said.

UK sees Customs as bureaucratic

Trade negotiators met in the UK last week to finalise the contours of the pact, they said. The two contentious issues of rules of origin and intellectual property rights are still being discussed.

"India has invited the UK Prime Minister to sign the pact on October 28. Both sides are keen to ink it," said one of the persons cited above.

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