India-UK Free Trade Agreement: A New Era for Bilateral Relations

Congress MP Sukhdeo Bhagat has criticized Prime Minister Narendra Modi over the India-UK Free Trade Agreement (FTA), urging the inclusion of a 'fugitive transfer agreement' as well. Bhagat highlighted the need for such an agreement to address the issue of economic fugitives, questioning why Modi has remained silent on the matter.

The India-UK Free Trade Agreement, celebrated by industry leaders, promises to transform trade and investment relations. Signed in the presence of PM Modi and UK Prime Minister Keir Starmer, the deal is set to enhance goods and services exchange between the two countries, marking a significant step in bilateral cooperation.

Concluded on May 6, the India-UK FTA seeks to eliminate or reduce import and export tariffs, aiming to boost competitiveness for products from both nations. The agreement strengthens market access for Indian goods such as textiles, gems, jewelry, and agricultural products, benefitting various sectors including MSMEs and enhancing trade towards a $120 billion goal by 2030.

(With inputs from agencies.)