The agreement is "more or less" finalised and will be signed later.
Both countries discuss a framework for preferential market access.
India’s export growth was over 15% in the first four months.
Reducing remittance costs could put extra billions of dollars in workers’ hands.
The deal will give both sides special permission to trade, called preferential market access.
India’s exports have grown more than 15% recently, showing the trade is already helping.
The agreement could also lower the cost of sending money home for workers living abroad.
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