Overview
- Legal teams from both countries are finalising the text of the India-UK FTA concluded on May 6 before formal signature
- Piyush Goyal and UK Trade Secretary Jonathan Reynolds met in London on June 18–19 to set a time-bound roadmap for finalisation and implementation
- The deal will eliminate duties on labour-intensive Indian exports such as leather, footwear and clothing and ease imports of UK whisky and cars
- A Double Contribution Convention within the FTA will prevent temporary workers from facing social security charges in both India and the UK
- Once signed—expected by September—the agreement will need UK parliamentary ratification (up to a year) and faster Indian approval to double bilateral trade to $120 billion by 2030