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The pact is expected to come into force from January 2023. The agreement, which was signed on April 2, would provide duty-free access to Indian exporters of over 6,000 broad sectors.
British PM Boris Johnson said an FTA would take the country's historic partnership with India to the next level, and highlighted Scotch whisky, financial services and cutting-edge renewable technology among some of the key sectors set to benefit.
Negotiators from both countries have struggled for more than a year to conclude a trade package as New Delhi and Washington spar over a range of issues, including tariffs.
The import of figs, apricots, and green and black raisins, pistachios, and almonds would also be hit by the new development.
US President Donald Trump has said he is 'saving the big deal' with India for later and he 'does not know' if it will be done before the presidential election in November.
China has pledged to buy almost $80 billion of additional manufactured goods from the United States over the next two years as part of a trade war truce.
The APEC, SAARC, BRI and now RCEP are instances of groupings which have become out of range for India for various reasons.
A few days before India opted out of the Regional Comprehensive Economic Partnership, Kerala Assembly had unanimously passed a resolution against the deal.
The original RCEP was aiming to facilitate the creation of the biggest free-trade region in the world as the 16-nation grouping is home to 3.6 billion people, or nearly half the world's population.
In 2019, we expect slower growth in nearly 90 per cent of the world. The global economy is now in a synchronized slowdown, Kristalina Georgieva said at the IMF headquarters here on Tuesday.