Preferential Trade Agreement

India is also under active discussions with Gulf Cooperation Council (GCC) for a comprehensive trade agreement, the Commerce and Industry Minister Piyush Goyal said

"Ukraine and the UK have legally enshrined the abolition of import duties and tariff quotas in bilateral trade by signing an agreement," the ministry was quoted as saying by Xinhua news agency

Till now, four rounds of negotiations have been completed and the last one was held in March in Tehran where both countries discussed a draft text of the pact

As per the expanded PTA, Chile has offered concessions to India on 1,798 tariff lines with margin of preference ranging from 30-100%