Have the Main Negotiations for the India-UK FTA Concluded? Insights from Vikram Doraiswami
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Synopsis
As PM Modi prepares for a crucial visit to the UK, Vikram Doraiswami reveals that the India-UK FTA negotiations have reached a significant milestone. What does this mean for trade between the two nations? Discover how this agreement could shape economic relations and benefit various sectors.
Key Takeaways
- Main FTA negotiations have concluded with final paperwork pending.
- PM Modi's visit is set for July 23-24, marking his fourth UK trip.
- The FTA aims to double trade to $120 billion by 2030.
- 99% of Indian exports will receive zero duty benefits.
- It opens vast opportunities for India's labor-intensive sectors.
London, July 22 (NationPress) As Prime Minister Narendra Modi gears up for a two-day visit to Britain, Vikram K. Doraiswami, the High Commissioner of India to the United Kingdom, announced on Tuesday that the primary negotiations concerning the India-UK Free Trade Agreement (FTA) have been successfully concluded, with only some final paperwork remaining to finalize the pact.
At the invitation of UK Prime Minister Keir Starmer, PM Modi will embark on an official visit to the United Kingdom from July 23 to 24, marking his fourth trip to the UK.
Doraiswami informed IANS that both nations will engage in significant discussions on trade and investment, particularly focusing on the implementation of the trade agreement once it is signed and ways to further enhance their economic relationship.
He stated, “Indian companies operating in the UK are generally satisfied; they have enjoyed favorable market access here.”
According to Doraiswami, the main FTA negotiations have been concluded, as declared by the Prime Ministers of both countries on May 6. However, some documentation still requires finalization, known as 'legal scrubbing', to ensure the agreement is legally sound and all required documents are prepared for ratification.
Doraiswami emphasized, “Our entire team is working in London to prepare for PM Modi’s visit.”
On May 6, PM Modi and Starmer announced the successful conclusion of a mutually advantageous India-UK FTA, anticipated to double trade between the two nations to $120 billion by 2030. Under this free trade agreement, 99% of Indian exports to the UK will benefit from zero duty, as per an official statement.
The agreement paves the way for substantial export opportunities for India’s labor-intensive sectors such as textiles, marine products, leather, footwear, sports goods, toys, gems, and jewelry, along with other essential sectors like engineering goods, auto parts, and organic chemicals, as outlined in the statement.
During the second phase of his tour, PM Modi will visit the Maldives from July 25-26 at the invitation of Maldivian President Dr. Mohamed Muizzu. This will be PM Modi’s third visit to the island nation and the first by any head of state during President Muizzu's administration.
Point of View
It is imperative to recognize the strategic importance of the India-UK FTA. The conclusion of negotiations signifies a pivotal moment in strengthening bilateral ties, fostering economic growth, and enhancing trade relations. This agreement not only benefits both countries but also demonstrates India's growing influence on the global stage.
NationPress
22/07/2025
Frequently Asked Questions
What is the India-UK Free Trade Agreement?
The India-UK Free Trade Agreement (FTA) is a trade pact aimed at reducing tariffs and facilitating trade between India and the UK, with the goal of significantly boosting bilateral trade.
When will PM Modi visit the UK?
PM Modi is scheduled to visit the UK from July 23 to 24, 2023.
What sectors will benefit from the FTA?
The FTA will open opportunities for sectors such as textiles, marine products, leather, and engineering goods, among others.
What is the expected trade value between India and the UK by 2030?
The trade value between India and the UK is expected to double to $120 billion by 2030 as a result of the FTA.
What does 'legal scrubbing' mean in the context of the FTA?
'Legal scrubbing' refers to the process of finalizing legal documents to ensure that they are sound and ready for ratification.
