Diwali deadline for India-UK trade pact not to be missed: Commerce secy

Negotiations for the proposed free trade agreement between India and the UK are at the last stage and the deadline of Diwali (in October) would not be missed, commerce secretary B V R Subrahmanyam said on Saturday.

In April, both sides had set the Diwali deadline for the conclusion of an India-UK Free Trade Agreement (FTA).

"We are on track (to meet the deadline). We are in the last stages. 19 out of 26 chapters are closed. There are a couple of areas where we are negotiating Diwali deadline is not going to be missed," he told reporters here.

Talks are happening on certain goods like cars and spirits from the UK side and certain products from the Indian side.

In January, both countries formally launched talks for a free trade agreement to boost bilateral trade and investments.

In such pacts, two countries either eliminate or significantly reduce customs duties on the maximum number of goods traded between them besides easing norms for promoting investments and services trade.

Ind