India-UK FTA Could be Ready by Diwali: Piyush Goyal

According to the progress of the two negotiating teams, a Free Trade Agreement (FTA) between India and the United Kingdom could be ready by Diwali without the need for an interim early harvest agreement, said Commerce and Industry Minister Piyush Goyal during a visit to the United Kingdom.

The Minister arrived in London from the World Economic Forum in Davos to take stock and meet with stakeholders and business leaders ahead of the fourth round of FTA negotiations, which will take place in the UK on June 13.

During a preview event on Thursday evening for India Global Forum's (IGF) annual UK-India Week, which begins on June 27, Goyal cited the FTAs signed with the UAE and Australia as a sign of things to come.

The Minister said, "Canada is progressing well towards an early harvest agreement. With the UK, we had agreed to do an early harvest agreement - basically, to grab the low-hanging fruits and leave the more difficult elements for the next stage and give the people of both countries the confidence that this agreement is a win-win. But the way things are progressing, we'll actually land up doing a full FTA with the UK by Diwali. I have had very good meetings on it.”