India and the UK launched formal negotiations on Thursday for a “fair and balanced” free trade agreement (FTA), which could cover more than 90% of tariff lines, and aimed to double bilateral trade of both goods and services to about $100 billion by 2030. Both the sides could opt for an interim agreement first, which would be followed up with a broader FTA, commerce and industry minister Piyush Goyal indicated at a joint press briefing he held along with UK trade secretary Anne-Marie Trevelyan. This interim pact would mainly cover “low-hanging fruit”, Goyal said.