India and UK to sign trade deal – media
An agreement has been in the works since 2001, but was stalled as London sought “more favorable conditions” Read Full Article at RT.com
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An agreement is likely to be penned during Narendra Modi’s visit to London this week
New Delhi and London will sign a free trade agreement (FTA) when Prime Minister Narendra Modi visits Britain this week, Indian media outlets have reported.
India’s cabinet approved the FTA on Tuesday, the News18 website said, citing government sources. “We are working on the legal scrubbing and other last-minute work for the FTA,” Indian Foreign Secretary Vikram Misri said on Tuesday.
The UK is the sixth-largest investor in India, with cumulative investment of $36 billion. India is also a major investor in the UK, with nearly $20 billion in cumulative investment, according to official data.
The deal has been in the works since 2001, but was stalled as London sought “more favorable” conditions such as tariff reductions on goods being shipped to India, unnamed UK government officials told the Hindu BusinessLine newspaper last year.
PM @narendramodi has embarked on an official visit to the United Kingdom. This will be PM’s fourth visit to
