India-UK FTA Set For Early May Rollout; EU Deal Likely By Year-End

New Delhi, Mar 20 (KNN) The free trade agreement (FTA) between India and the United Kingdom is likely to be implemented by early May, as both sides work to resolve pending issues, officials said.

The agreement, signed in July last year, is currently awaiting final processes, including approval by the UK Parliament.

Officials indicated that the trade agreement between India and the European Union (EU) is also progressing, with ratification expected by November and implementation likely within the year, PTI reported.

The pact, described as a major trade milestone, is expected to provide duty-free access to about 93 per cent of Indian exports to the 27-nation bloc, while reducing tariffs on select European imports such as luxury cars and wines.

Negotiations with Israel and the Gulf Cooperation Council—comprising Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and Bahrain—have slowed amid ongoing geopolitical tensions in the region.

On a potential trade agreement with the United States, officials said discussions remain ongoing, but progress will depend on securing preferential market access relative to competing countries.

India and the UK signed the Comprehensive Economic and Trade Agreement (CETA) on July 24 last year. Under the pact, 99 per cent of Indian exports are expected to enter the UK market duty-free, while tariffs on British goods such as automobiles and whisky will be reduced in India.

(KNN Bureau)