India, EU free trade pact by year end

India and U.K. on Tuesday expressed commitment to conclude the broadbased India-EU Free Trade Agreement (FTA) by the end of the year.

“Both economies are sharing the gains from increased trade and investment flows. Both sides are fully committed to ensure the conclusion of an ambitious and balanced broad-based EU-India FTA by the end of the year,” said the joint communique issued after a meeting between Finance Minister Pranab Mukherjee and Britain’s Chancellor of Exchequer George Osborne.