New Delhi, July 18 -- In an attempt to boost trade and investment between the two countries, India and the United Kingdom are expected to formally sign a long-awaited Free Trade Agreement (FTA) next week. The agreement is expected to double trade between the two nations to $120 billion by 2030.
After the signing, the FTA will need to be ratified by the British Parliament and approved by India's Union Cabinet. The implementation is likely to take about a year after the signing.
Once implemented, it is expected to eliminate import taxes on Indian exports such as leather goods, clothing, footwear, toys, marine products and gems and jewellery. It will also make British products like whisky, gin, cars, medical devices, cosmetics, chocolates, a...