Indian stock markets opened flat on Thursday, anticipating investor sentiments to turn positive with India and the UK formalizing the Free Trade Agreement (FTA) later in the day.
Prime Minister Narendra Modi arrived in the United Kingdom on Wednesday in the first leg of his two-nation visit with the two countries poised to further strengthen bilateral ties by signing Free Trade Agreement.
Two months after India and United Kingdom concluded Free Trade Agreement (FTA), the two countries are poised to sign the mutually beneficial landmark trade pact during Prime Minister Narendra Modi's visit to UK beginning on Wednesday.
The highlight of PM Modi's visit will be the signing of the India-UK FTA, which has been under negotiation for three years. This agreement is expected to eliminate tariffs on 99% of Indian exports to the UK and reduce tariffs on 90% of British products.
The highlight of PM Modi's visit will be the signing of the India-UK FTA, which has been under negotiation for three years. This agreement is expected to eliminate tariffs on 99% of Indian exports to the UK and reduce tariffs on 90% of British products.
Former diplomat Mahesh Sachdev said PM Modi's UK visit could lead to a key free trade deal, boosting trade and investment. He highlighted India's economic strength, UK's post-Brexit needs, and said the agreement could deepen ties and stabilise UK's approach towards India.
"The free trade agreement ...essentially the substantive negotiations finished on the 6th of May. The scrubbing work is underway. It would, of course, not be proper for me to speculate about when it will be signed, but the important point is that the text must be completely ready for it to b
PM Modi will be visiting the Maldives on July 25 on a state visit at the invitation of President Mohamed Muizzu. He has been invited as the 'Guest of Honour' for the 60th Anniversary celebrations of the Independence of Maldives on July 26.
As Prime Minister Narendra Modi embarks for his fourth visit to the UK later this week, India-UK ties have seen new energy, with the finalization of the much awaited Free Trade Agreement.
Deputy Trade Commissioner for South Asia at the British High Commission, Anna Shotbolt has said that the India-UK Free Trade Agreement is projected to increase bilateral trade between the two countries by £25.5 billion every year.
Anna Shotbolt, Deputy Trade Commissioner for South Asia at the British High Commission, said that the India-UK Free Trade Agreement is projected to increase bilateral trade between the two countries by £25.5 billion every year.