NEW DELHI: India and the UK are likely to sign the long-awaited Free Trade Agreement (FTA) next week, according to officials.“The process of legal scrubbing of the FTA text is going on. It is expected to be signed next week,” an official told PTI.The trade agreement between the two countries aims to boost bilateral trade and investments.The deal will scrap taxes on Indian exports like leather, footwear, and clothing, while reducing duties on British goods such as whisky and cars with a goal of doubling trade to $120 billion by 2030.The FTA will require ratification from the British Parliament and approval from India’s Cabinet before becoming operational.The complete implementation is expected to take approximately one year after the signing. The two countries announced the conclusion of the negotiations on May 6.
