India and the United Kingdom have agreed on the draft text of a civil nuclear cooperation agreement between the two countries. The deal will be inked on a mutually decided date soon.

Union Commerce and Industry Minister Anand Sharma is on a visit to the country where he met British Business Secretary Peter Mandelson. The agreement was prepared in the meeting held between the two leaders in London's historic Lancaster House on Thursday.

''We have negotiated. A text has been agreed and it will be signed,'' said Sharma

Mr. Sharma also led the Indian delegation in the U. K.-India Joint Economic Trade Committee meeting. While National Security Adviser, M. K. Narayanan was also present who negotiated the text from the Indian side.

During the negotiations an issue of contention was that India apposed the words put forward by the UK relating to the fissile material cut-off treaty.

The nuclear Industry in the United Kingdom exports nuclear goods and equipment worth over £700 million and has capabilities to supply almost 70-80 per cent parts of a new nuclear reactor.

The deal is subject to the approval of a legislation in the Indian parliament allowing private companies to participate in this sector.

The United Kingdom has shown its support to the process of India reentering the international nuclear trade. The two countries will also enhance collaboration in defense sector.

India has signed similar deals with various countries including France, Russia, Mongolia, Kazakhstan, Argentina and Namibia, after the country signed its first historic deal with the United States in October 2008.

Apart from the United Kingdom, India has also finalized a similar deal with Canada and the agreement for which is expected to be signed soon.