 "trade deal")
In December 2021, India surpassed the UK to become the fifth-largest global economy. In January 2022, both countries initiated negotiations for a comprehensive free trade agreement (FTA) in fast-track mode. Currently, negotiations are nearing completion, with teams from both countries working to resolve the last few remaining issues. The FTA may be signed by the end of the year.
India and the UK have a modest trade relationship, with the total bilateral trade in financial year 2022-23 exceeding $44.3 billion. India, with exports of $25.8 billion in goods and services, has a trade surplus of $8 billion. This data is
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