India's trade deal with Britain is a sign of New Delhi's new gradual shift to opening up its markets while shielding crucial sectors from competition and could be its template for future agreements, government officials and analysts said on Friday.

Prime Minister Narendra Modi on Saturday described the recently concluded FTA between India and UK as 'historic,' and said the trade pact showed the world's trust in the country.

Indian Prime Minister Narendra Modi is in the UK amid reports that the two countries will announce a landmark free trade deal. Modi is expected to sign the long-awaited deal on Thursday, which will cut tariffs on goods and increase market access for both countries.