The Indian government announced that its cabinet has approved a free trade agreement (FTA) with the UK, set to be signed on July 24. The deal, officially named the India-UK Comprehensive Economic and Trade Agreement (CETA), will be finalized in London during Indian Prime Minister Narendra Modi’s visit to Britain starting July 23.

The agreement covers key areas such as goods and services trade, innovation, government procurement, and intellectual property. It aims to double bilateral trade to US$120 billion by 2030. 

Meanwhile, negotiations on a separate bilateral investment treaty (BIT) are still ongoing.

The FTA will take effect after formal signing and ratification by both countries.