India-UK FTA: A New Era of Bilateral Trade on the Horizon

The India-UK Free Trade Agreement is nearing completion, spurred by Commerce Minister Piyush Goyal's visit to the UK. Significant progress has been made, with expectations of an imminent announcement. The deal aims to bolster trade, reduce tariffs, and provide more opportunities for skilled professionals and the services sector.

Trade and industry experts across the UK are optimistic that the India-UK Free Trade Agreement (FTA) is close to fruition. This follows Commerce and Industry Minister Piyush Goyal's recent visit, which marked substantial advancements in the negotiations.

The atmosphere was buoyant as the Lord Mayor of London hosted an 'Indian Century' dinner at Mansion House. He expressed optimism regarding the FTA, reflecting on last year's GBP 42 billion trading relationship and highlighting India's rapid growth as a UK export market for services.

Talks continue to tackle final hurdles, focusing on tariff reductions and improved terms for professionals. With nearly all chapters of the agreement closed, the deal is predicted to significantly enhance bilateral trade, potentially doubling it within five years.

(With inputs from agencies.)