New Delhi, Jul 17 (PTI) India and the UK are expected to sign the Free Trade Agreement (FTA) next week, a pact which aims to boost trade and investment between the two countries, an official said.

The two countries announced the conclusion of the negotiations on May 6.

It will remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to USD 120 billion by 2030.

"The process of legal scrubbing of the FTA text is going on. It is expected to be signed next week," the official said.

Once the FTA is signed, it will require approval from the British Parliament and India's Cabinet before it can take effect.

The implementation is likely to take about a year after the signing. PTI RR DR DR

Free Trade Agreement expected to be signed soon, removing tariffs on labour intensive exports and requiring parliamentary and cabinet approvals. The Free Trade Agreement between India and the United Kingdom is expected to be signed after legal scrubbing; it removes tariffs on specified labour intensive exports and liberalises imports of selected UK products, and will require parliamentary and cabinet approvals plus a post signature period before implementation.