India-UK FTA within finger-touching distance, says NITI Aayog CEO

The Free Trade Agreement (FTA) being negotiated between India and the UK is in the final stages with both sides within finger-touching distance to clinch an agreement, NITI Aayog CEO B.V.R. Subrahmanyam said here on Wednesday.

The FTA, negotiations for which were launched in January 2022 before being stalled due to general elections in both countries, is aimed at significantly enhancing the estimated GBP 38.1 billion a year bilateral trading partnership.

During the signing ceremony for the new UK-India Infrastructure Financing Bridge (UKIIFB) agreement, both sides were keen to stress that the bilateral partnership is not being held hostage to the FTA even as the newly elected governments on both sides remain committed to it.

"I think this is a deal that is in the last slab. The two sides I would say are not even at hand-shaking distance, the fingers are touching. It's just a question of that extra five inches and you can grab the deal, Subrahmanyam said while addressing a panel ...