PM Modi to visit UK this month to formalise FTA
New Delhi, July 9 -- Prime Minister Narendra Modi is expected to visit Britain later this month for the formalisation of the India-UK trade deal and to give a boost to strategic and economic ties, people familiar with the matter said.
On May 6, India and the UK finalised a free trade agreement (FTA) to boost Indian exports of textiles, leather and engineering goods and cut levies on British whisky, automobiles and medical devices. Since then, the two sides have been engaged in the legal scrubbing of the deal so that it can be formally signed.
The two sides are currently working out arrangements for Modi's visit, for which dates are yet to be firmed up, the people said on condition of anonymity. Both countries are exploring dates towards the end of July, the people said.
A formal ceremony for signing the FTA is expected soon, an official said, requesting anonymity. Once it is signed, the deal is expected to enter into force in about a year, he said.
Modi is also set to travel to the Maldives to participate in the country's Independence Day celebrations on July 26, and there is a possibility the two visits may be combined though a final call is yet to be made, the people said.
Earlier, UK Prime Minister Keir Starmer was expected to visit India for the formalisation of the deal. The legal vetting of the deal was expected to take three months and Starmer was set to visit by August. It is understood the decision for Modi to travel to the UK was made when the two leaders met on the margins of the G7 Summit in Canada last month. This will be Modi's first visit to Britain since Starmer became prime minister last year. National security adviser Ajit Doval visited the UK from June 30 to July 1 for the bilateral strategic dialogue and met British NSA Jonathan Powell, foreign secretary David Lammy , security minister Dan Jarvis and other British officials.
The FTA is expected to double bilateral trade by 2030 from the current level of $60 billion, an official said. One of its most attractive features is an exemption for employers of Indian workers from paying social security contributions in the UK for three years under the Double Contribution Convention (DCC), he said....
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