A bilateral trade deal between India and the United Kingdom could be signed after three months and will take over a year to implement, an Indian government official said on Thursday. New Delhi and London concluded talks for a free trade deal on Tuesday,

That alone makes the trade deal agreed between India and Britain on May 6th significant—perhaps even a “landmark”, as Britain’s prime minister and his opposite number, Narendra Modi, claimed. The deal will add a useful boost to trade between the world’s fifth- and sixth-largest economies.