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India and the UK are nearing the signing of a Free Trade Agreement, but there are still contentious issues to be addressed such as intellectual property rights (IPR), rules of origin, and bilateral investment treaties. India is the world's largest provider of generic drugs and IPR has been a major concern. The bilateral trade between the countries has increased to $20.36 billion in 2022-23. The UK is the largest market in Europe for Indian IT services and one of the top investors in India, with $1.74 billion in foreign direct investment in 2022-23.
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