New Delhi: The legal scrubbing of the free trade agreement (FTA) text between India and the 27-nation European Union is likely to be completed by July this year, an official said.
On January 27 this year, India and the EU announced the conclusion of negotiations for the free trade agreement, described as ‘mother of all deals’, under which 93 per cent of Indian shipments will enjoy duty-free access to the 27-nation bloc, while import of luxury cars and wines from the EU will become less expensive.
The deal, concluded after negotiations spanning about two decades, will create a market of about 2 billion people.
“We have set an internal deadline of July to complete the legal scrubbing of the text,” the official said.
After that it will be signed and may come into force next year.
PTI
