India-UK trade agreement will be signed on July 24, Goyal will be present with PM Modi
India-UK: Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London on July 24 to sign the free trade agreement between India and Britain. The two countries announced the conclusion of negotiations for the trade agreement on May 6. Let's know about this.
Piyush Goyal, the Commerce and Industry Minister, will join Prime Minister Narendra Modi in London on July 24 to sign the India-UK free trade agreement. The two nations declared on May 6 that negotiations for the trade pact had ended.
The trade pact contemplates elimination of duties on export of labour-intensive goods like shoes and clothing, leather, to make imports of British whiskey and automobiles less expensive so that trade between the two economies doubles to US $ 120 billion by 2030.
Prime Minister Narendra Modi will go on a four-day visit to Britain and Maldives from Wednesday, aimed at strengthening bilateral ties in the areas of trade, investment and defense.
The official said that the Commerce Minister will accompany the Prime Minister during this visit.
Once the free trade agreement is signed, it will need the approval of the British Parliament and the Cabinet of India before it can come into force. After the signing of the agreement, it will take about a year to come into force.
