India-UK FTA: Implementation by May, EU by Year-End

New Delhi, Mar 19 (PTI) The free trade agreement (FTA) between India and the UK, signed in July last year, is likely to be implemented by early May, as both sides are "sorting out a few issues", officials said on Thursday.

According to officials, the EU has indicated November as the timeline for the ratification of the trade pact with India, and its implementation is expected this year.

However, they indicated that trade pact talks with Israel and the six-member Gulf Cooperation Council (GCC), comprising Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain, have slowed amid the ongoing conflict in the region.


On the US-India trade pact, officials said the process of the trade agreement "stands"; however, "any trade agreement is based on preferential market access versus competitors. If we get that, then the trade deal stands".

On January 27 this year, India and the EU announced the conclusion of negotiations for the free trade agreement, described as 'mother of all deals', under which 93 per cent of Indian shipments will enjoy duty-free access to the 27-nation bloc, while import of luxury cars and wines from the EU will become less expensive.

India and the UK, on July 24 last year, signed the Comprehensive Economic and Trade Agreement (CETA) under which 99 per cent of Indian exports will enter the British market at zero duty, while tariffs on British products, such as cars and whisky, will be reduced in India.

The pact needs approval from the UK parliament before it is implemented.