London: As Prime Minister Narendra Modi prepares for a two-day visit to Britain, Vikram K. Doraiswami, High Commissioner of India to the United Kingdom, said on Tuesday that main negotiations around the India-UK Free Trade Agreement (FTA) have been concluded and some last-minute paperwork is left to be finalised for the pact.
At the invitation of UK Prime Minister Keir Starmer, PM Modi will undertake an official visit to the United Kingdom from July 23 to 24. This marks his fourth visit to the UK.
Doraiswami told IANS that both countries will discuss “a lot on trade and investment, especially how to implement the trade agreement once it is signed, and how both countries can further strengthen their economic relationship”.
“The Indian companies operating in the UK are largely satisfied; they have received good market access here,” he added.
According to Doraiswami, the “main FTA negotiations have concluded, as announced by the Prime Ministers of both nations on May 6. However, some paperwork still needs to be finalised — this is called ‘legal scrubbing,’ to ensure that the agreement is legally sound and all documents are ready for an agreement”.
Doraiswami told IANS that “Our entire team is working in London to prepare for PM Modi’s visit”.
PM Modi and Starmer on May 6 this year announced the successful conclusion of a mutually beneficial India-UK FTA, which is expected to double the trade between the two countries to $120 billion by 2030. Under the free trade agreement, 99 per cent of Indian exports to the UK will get the benefit of zero duty, according to an official statement.
The agreement opens up massive export opportunities for India’s labour-intensive sectors such as textiles, marine products, leather, footwear, sports goods and toys, gems and jewellery, and other important sectors such as engineering goods, auto parts and engines, and organic chemicals, the statement said.
In the second leg of the tour, PM Modi will undertake a state visit to Maldives from July 25-26 at the invitation of Maldivian President Dr Mohamed Muizzu. This marks PM Modi’s third visit to the island nation and the first by any head of state or government during President Muizzu’s tenure
(IANS)
