India-UK FTA likely to be signed by July-end

India and the United Kingdom are on the brink of finalizing a landmark Free Trade Agreement (FTA), with both nations aiming to sign the deal by the end of July. As legal teams meticulously finalize the text, this agreement is poised to strengthen the economic ties between the two countries, offering new opportunities for businesses and consumers alike. The proposed FTA is designed to significantly boost bilateral trade, targeting an ambitious figure of $120 billion by the year 2030. This increase is expected to stem from reduced tariffs, eased market access, and the removal of several trade barriers, fostering a more seamless flow of goods and services. Both nations anticipate that the agreement will also create new employment opportunities and drive economic growth in a post-pandemic world. Negotiators have been working tirelessly to address key issues such as data protection, intellectual property rights, and sustainability standards. The successful resolution of these matters is crucial to ensuring the agreement's long-term benefits. As the final details are ironed out, stakeholders from various sectors are optimistic about the potential for enhanced cooperation and investment between India and the UK, marking a new chapter in their historic relationship.

— Authored by Next24 Live