The ongoing negotiations on a free trade agreement (FTA) between India and the UK will be wrapped up by the end of August and the final agreement will be ready for signing by the end of October this year, India’s secretary to the commerce ministry, B. V. R. Subrahmanyam, said on Friday, July 22.
He ruled out any delay in hammering out the crucial trade deal due to political uncertainties in the UK after Boris Johnson stepped down as the leader of the Conservative Party, paving the way for another prime minister.
“We have been assured by the UK side that, irrespective of whoever is in power, there is across-the-board support for the FTA with India,” he said.
Once the negotiations are over in August, both sides will get into the process of “legal scrubbing” and other internal clearances like cabinet approval. These are expected to be over before the end of October, so that leaders of both nations will be able to sign it, he said.
The UK is expected to have a new prime minister in September. Both countries are currently engaged in the fifth round of negotiations for the FTA and have so far completed 17 of the 26 chapters that will be covered by it.