News Brief
India-UK Free Trade Agreement Cleared By Union Cabinet, Signing Set For 24 July In London During PM Modi’s Visit: Report
Prime Minister Narendra Modi with UK's Prime Minister Keir Starmer (File Photo) (Representative Image)
The Union Cabinet on Tuesday (22 July) cleared the long-awaited free trade agreement (FTA) with the United Kingdom, with the signing scheduled for Thursday (24 July) in London, news agency PTI reported, citing sources.
Titled the Comprehensive Economic and Trade Agreement (CETA), the pact will be signed during Prime Minister Narendra Modi’s visit to London.
The Prime Minister is set to begin a four-day tour of the UK and Maldives starting Wednesday (23 July).
Commerce Minister Piyush Goyal will be part of the official delegation accompanying PM Modi.
India and the UK had earlier announced the conclusion of FTA negotiations on 6 May.
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The agreement proposes to eliminate duties on Indian exports like leather, apparel, and footwear, while easing tariffs on British imports such as cars and whisky, aiming to double bilateral trade to $120 billion by 2030.
Following the signing, the agreement will require ratification by the UK Parliament before implementation.
The FTA comes into force after signing and ratification by both countries.
FTAs typically slash or eliminate tariffs on most traded goods and liberalise rules for promoting trade in services and bilateral investments.
In 2024–25, Indian exports to the UK rose 12.6 per cent to $14.5 billion, while imports increased 2.3 per cent to $8.6 billion.
Alongside the FTA, negotiations have also concluded for the Double Contribution Convention Agreement, or social security pact, which will exempt Indian professionals from making dual contributions to social security funds while working temporarily in the UK.
Meanwhile, discussions on the India-UK Bilateral Investment Treaty (BIT) remain ongoing.
