India-Britain trade agreement will be signed on July 24, Goyal will also be with Prime Minister Modi
India and Britain The Free Trade Agreement (FTA) will be signed in London on 24 July. On this occasion, Prime Minister Narendra Modi will be accompanied by Commerce and Industry Minister Piyush Goyal. An official gave this information on Monday. The two countries announced the completion of negotiations for the trade agreement on May 6. This trade agreement proposes to remove tax on export of labor-dominated products such as leather, shoes and textiles. Also, the import of whiskey and cars from Britain will be cheaper. It is expected that the agreement will double the trade between the two economies to US $ 120 billion by 2030.
PM Modi on a visit to Britain from Wednesday
Prime Minister Narendra Modi will go on a four -day visit to Britain and Maldives from Wednesday. The purpose of their visit is to strengthen bilateral relations in trade, investment and defense sectors. The official said that the Commerce Minister will be with the Prime Minister in this visit. After the free trade agreement is signed, approval will have to be obtained from the British Parliament and the Union Cabinet in India before implementing it. After the signing of the agreement, it will take about 1 year to implement.
Dialogue between India-European Association in September
The next round of talks on the proposed Free Trade Agreement (FTA) between India and the European Union (EU) will be held in September. The 12th round of talks between the two sides was concluded in Brussels. The European Union of India and 27 countries resumed talks for an agreement on a comprehensive free trade agreement, an investment protection agreement and geographical indicators (GI) in June 2022 following a gap of over eight years. The agreement stopped in 2013 due to differences at the level of opening markets. India and the European Unions are aiming to complete the free trade agreement by the end of this year. Prime Minister Narendra Modi and the European Commission chairman agreed on 28 February to sign the much -awaited free trade agreement by the end of this year.
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