India-UK FTA Text To Be Released After Signing; US Trade Deal Still Under Negotiation: Govt
On the proposed bilateral trade agreement with the United States, MoS Commerce Jitin Prasada said negotiations are still underway and no agreement has been signed yet.
The Indian government on Tuesday said the text of the proposed free trade agreement (FTA) with the United Kingdom will be made public only after the deal is formally signed.
In a written reply to Parliament, Minister of State for Commerce and Industry Jitin Prasada said the FTA ensures “comprehensive market access for goods, across all sectors, covering all of India’s export interests.”
Prasada added that the India-UK trade pact will come into effect only after signing and ratification by both countries. He assured Parliament that the government has “taken care of all sensitivities associated with the FTA” and has made efforts to ensure that India's trade and economic interests are protected.
Negotiations for the India-UK FTA were concluded in May this year, but political changes in the UK delayed the signing. The agreement is seen as a key milestone for India’s broader strategy to boost exports through bilateral deals with developed economies.
On the proposed bilateral trade agreement (BTA) with the United States, Prasada said negotiations are still underway and no agreement has been signed yet. India and the US have completed five in-person round of negotiations, with both sides exploring a phased approach to market access and tariff reduction. A sixth round is scheduled in the second half of August.
The comment comes as exporters and industry leaders closely watch developments around the US BTA, especially ahead of the Aug. 1 deadline set by the US for implementing new reciprocal tariffs.
