The Union Cabinet on Tuesday approved the India-UK Free Trade Agreement (FTA), government sources said, reported the PTI.

The agreement, formally referred to as the Comprehensive Economic and Trade Agreement, is scheduled to be signed in London on July 24 during Prime Minister Narendra Modi’s visit to the United Kingdom, according to the PTI.

PM Modi will begin his four-day visit to the UK and the Maldives on Wednesday, and will be accompanied by Commerce and Industry Minister Piyush Goyal.