PM Narendra Modi is on his fourth visit to the UK since taking office in 2014 and will hold talks with UK PM Keir Starmer on issues such as trade, health, energy, education and security.
The free trade agreement between India and the UK will be signed during Prime Minister Narendra Modi’s visit to London today. Commerce and Industry Minister Piyush Goyal will accompany the prime minister.
The two countries announced the conclusion of the negotiations for the trade agreement on May 6, after three years of negotiations
The trade agreement proposes to remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in an effort to double trade between the two economies to USD 120 billion by 2030.
After the free trade agreement is signed by the commerce ministers from both countries, it will require approval from the British Parliament before coming into effect, as the Indian cabinet has already given its consent to the deal.
Britain is the sixth-largest investor in India with investments of around $36 billion. There are 1,000 Indian companies in the country, with 1,00,000 employees, with a total of $2 billion investment.
99% of Indian products will receive duty-free access to the UK market, covering nearly all of India’s current trade value.
