Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London for the signing of the free trade agreement between India and the UK on July 24, an official said on Monday. The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
'That way you're not hostage just to US sort of exports to India.'
Senior Congress leader Shashi Tharoor welcomed the revival of long-stalled India-UK FTA negotiations, posting a selfie with Union Commerce and Industry Minister Piyush Goyal and the UK's Secretary of State for Business and Trade Jonathan Reynolds. Tharoor's post comes amid a row over his recent article praising the Kerala government's investment climate, which drew criticism from some Congress leaders.
Prime Minister Narendra Modi and (the then) UK Prime Minister Boris Johnson launched an 'Enhanced Trade Partnership' (ETP) to unleash the trade potential between the two economies. As part of the ETP, they agreed on a roadmap to negotiate a comprehensive and balanced FTA.
Issues related to the proposed free trade agreement (FTA) and bilateral investment treaty between India and the UK are expected to figure during the three-day visit of Finance Minister Nirmala Sitharaman to London from April 8-10, official sources said. The minister will attend a host of meetings, including the India-United Kingdom Economic and Financial Dialogue, in London.
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