India, UK aim to launch FTA negotiations by November 1

India and the United Kingdom plan to launch negotiations on a trade deal between the two nations by 1 November 2021, the commerce and industry said on Tuesday. Both nations are looking at an interim trade deal by March next year, which will be followed by a comprehensive FTA. The interim deal will involve early concessions on certain key high-priority products and services related to tariffs or market access.
Commerce and industry minister Piyush Goyal said that an interim trade agreement is the first step towards an FTA that would allow both nations to immensely benefit from the early gains of the partnership.