India needs another FTA - Fugitive Transfer Agreement from UK: Cong

The Congress on Thursday took a swipe at the Modi government ahead of the signing of the India-UK free trade agreement, saying what India needs from that country is the announcement of another and more effective FTA - Fugitive Transfer Agreement.

Congress general secretary in-charge communications Jairam Ramesh said, "three stars of the Modi Model of bhagodanomics are still waiting for their ghar wapsi -? Vijay Mallya, Nirav Modi, and Lalit Modi.There may well be others too." 

  "The India-UK FTA (Free Trade Agreement) will be signed today in London in the presence of Prime Minister Modi. What India needs from the UK is the announcement of another and more effective FTA (Fugitive Transfer Agreement)," Ramesh said on X.

The India-UK FTA, billed as the UK's most economically significant bilateral trade deal since leaving the European Union, will be signed in the presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer. 

 

The two prime ministers will also unveil an "UK-India Vision 2035" to take their partnership to new heights in a time of rapid global change.

With the India-UK FTA to be signed during Prime Minister Modi's visit to Britain, the Congress on Wednesday had claimed that serious questions have emerged on its impact on India's domestic industry. 

 

In May, India and the UK sealed the FTA that is expected to benefit 99 per cent of Indian exports from tariffs and will make it easier for British firms to export whisky, cars and other products to India besides boosting the overall trade basket.

The trade deal, firmed up after three years of negotiations, is expected to ensure comprehensive market access for Indian goods across all sectors and India will gain from tariff elimination on about 99 per cent of tariff lines (product categories) covering almost 100 per cent of the trade values, according to officials.